KTPB advised by King & Spalding

King & Spalding advised Kuveyt Turk Katilim Bankasi A.S. (KTPB), a Turkish participation bank majority-owned by Kuwait Finance House, in the issuance of USD350 million subordinated resettable tier 2 certificates due 2026, listed on the Irish Stock Exchange. The certificates were issued through KT Sukuk Company a Cayman Islands incorporated special purpose vehicle.

The King & Spalding debt capital markets team advised KTBP was led by partner, Rizwan H Kanji with the assistance of senior associate Hamed Afzal and transaction specialist Gina Bunker. 

The joint lead managers on the transaction were Abu Dhabi Islamic Bank PJSC, Dubai Islamic Bank, EmiratesNBD Capital Limited, HSBC Bank plc, KAMCO Investment Company, KFH Capital, Noor Bank and QInvest. 

The firm also advised the Alinma Jeddah Economic City Real Estate Fund on a Shari’ah-compliant financing extended by Alinma Bank in connection with the development of the first phase of the Jeddah Economic City project. This is one of the largest development projects in Saudi Arabia and includes the construction of the Jeddah Tower, which will be the world’s tallest building at over one kilometer high.

King & Spalding further advised Jeddah Economic Company and Alinma Investment Company on the formation of the SAR8.4 billion Alinma Jeddah Economic City Real Estate Fund, which is regulated by the Saudi Arabian Capital Market Authority.

The King & Spalding team on this financing was led by partner Zaid Al-Farisi and included partners Nabil Issa and James Stull, with the assistance of associate Sayf Shuqair.