K&A acted as counsel for Al Rajhi Bank asissuer on the establishment of a SAR 10 billion Additional Tier 1 SukukProgramme and the offering of Sukuk thereunder by way of a public offering.
This transaction is the first public debt offering under the Capital Market Authority’s Rules on the Offer of Securities and Continuing Obligations, with the last public offering of Sukuk being completed under the previous legal framework during2015.
The transaction was led by partners Zeyad Khoshaim and Amro Bakhaidar, and supported by associates Mohammad Almania, ModiAlnafea, Yazeed Alsayari, and trainee associate Raghad Alhumaidan.
This transaction comes on the back of K&A being ranked Tier 1 in Capital Markets for both debt and equity as the only independent Saudi Arabian law firm to be ranked as Tier 1 by IFLR 1000 for all practice areas.
