UNITED ARAB EMIRATES – Norton Rose advises on MTN and sukuk programmes

INTERNATIONAL legal practice Norton Rose Group advised Majid Al Futtaim Group on updating its US$2 billion Global Medium Term Note Programme and its US$1 billion Trust Certificate Issuance Programme (the Sukuk Programme). The GMTN Programme was arranged by Barclays Bank PLC, Emirates NBD Bank PJSC and, Standard Chartered Bank. The Sukuk Programme was arranged by Abu Dhabi Islamic Bank PJSC, Dubai Islamic Bank PJSC, HSBC Bank plc and Standard Chartered Bank.

 

Norton Rose partner and head of Islamic finance for Middle East and Africa, Mohammed Paracha, said: “We have seen a tremendous level of growth in Islamic Finance transactions this year, out of which Sukuk has played a significant part.

 

The Norton Rose Middle East LLP team was led by capital markets of counsel Alex Roussos, assisted by Mohammed Paracha, partner and Head of Islamic finance for the Middle East and Africa, Farmida Bi, partner and Head of Islamic finance for Europe in London and associate Faris Al Amoudi in Dubai.