Clifford Chance represents MAF

The Dubai office of Clifford Chance has advised Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC on the tap issuance by MAF Global Securities Limited of USD300 million 4.75 per cent per annum notes due 2024 (consolidated and forming a single series with the USD500 million 4.75 per cent notes due 2024 issued on May 7, 2014). The notes were issued under the MAF Global Securities Limited USD3 billion global medium term note programme guaranteed by Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC. This successful transaction represents the first capital markets transaction from the region of the second half of the year.

Clifford Chance also advised Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC on the update of the programme in May 2016. The Clifford Chance team was led by Stuart Ure, with the support of senior associate Rafe Khokhar and associate Julian Walley. Norton Rose Fulbright (Middle East) LLP acted as legal advisor to the joint lead managers, consisting of Barclays Bank PLC, Citigroup Global Markets Limited, Emirates NBD PJSC, HSBC Bank plc and Standard Chartered Bank.

Further, the firm also advised Crédit Agricole Corporate and Investment Bank and National Bank of Abu Dhabi P.J.S.C. as joint lead managers on the tap issuance by the National Bank of Oman SAOG of USD100 million 3.125 per cent notes due 2019 (to be consolidated, become fungible and form a single series with the USD500 million 3.125 per cent notes due 2019 issued on October 7, 2014), under the Irish Stock Exchange listed USD600 million euro medium term note programme established by the National Bank of Oman SAOG (the Programme). Clifford Chance also advised the Programme arrangers and dealers (which included Crédit Agricole Corporate and Investment Bank and National Bank of Abu Dhabi P.J.S.C.) on the update of the Programme in June 2016.

The Clifford Chance team was led by partner Stuart Ure, with the support of senior associate Rafe Khokhar and associates Brian O’Leary and Moussa Louizi. Dentons, through its London and Oman offices, acted as legal advisor to the National Bank of Oman SAOG, while local firm Al Busaidy, Mansoor Jamal & Co. provided Omani law advice to the joint lead managers.