Capital Markets
Global Guide 2024 : Saudi Arabia
Band 3
Email address
[email protected]Contact number
+966 2 650 4475About
Provided by Derayah LLPC
Our firm is well known in the Saudi legal market for its experience, high quality work and in-depth knowledge and understanding of Saudi capital market laws and regulations. We focus on high profile transactions and ongoing advice to international and Saudi Arabian blue-chip clients.
As such, we have worked on several notable transactions, including:
- the first IPO under the new Capital Market Regulation, where 20% of the share capital of the first Saudi Arabian private sector telecommunications operator was offered to the public. The issue was 51 times oversubscribed, at a value of US$ 13.6 billion;
- the issuance of a US$ 2 billion Sukuk as part of the financing for Sadara Chemical Complex. The Sadara project set a global precedent of issuing the project Sukuk (project bond) before the main financing and not as replacement debt; and
- the legal counsel to National Commercial Bank in connection with several Sukuk, one of which was the first Tier 1 Sukuk to be issued by a Saudi Arabian bank.
Chambers Review
Derayah is a leading independent law firm based in Jeddah. It receives regular capital markets mandates from international companies, regional banks and financial institutions. The firm has considerable expertise in Shari'a-compliant transactions, particularly sukuk issuances. It also leverages a highly experienced disputes practice to assist clients with a wide range of contentious securities issues.
Work Highlights
- Derayah has continued to represent Citicorp Trustee Company and Golden Belt 1 Sukuk in long-running litigation proceedings against Saad Trading, and its owner Maan Al-Sanea, concerning a USD650 million default on a sukuk.
Strengths
Provided by Chambers
"They have a very strong grasp of local capital markets law."
"They have a very strong grasp of local capital markets law."
Notable Practitioners
Asad Abedi calls upon his varied regional and international experience in his advice to clients, providing frequent guidance on sukuk issuances and a range of regulatory securities matters. Based in Jeddah, he represents a notable portfolio of clients which includes banks and several major regional companies.
Ranked Lawyers at
Derayah LLPC
Saudi Arabia
Clients
Provided by Derayah LLPC
Citicorp Trustee Company Ltd
Golden Belt 1 Sukuk Company
National Commercial Bank
Saudi National Bank (ex-SAMBA Financial Group)