Cayman Islands: Triple Win For Walkers At Bonds, Loans And Sukuk Middle East Awards 2015
Last Updated: 3 December 2015

Walkers advised on three MENA deals recognised at the recent Bonds, Loans and Sukuk awards held in Dubai. The awards celebrate excellence in the Middle Eastern capital markets.

Walkers acted as Cayman Islands legal counsel and Irish Listing Agent on the "Sovereign/Quasi-Sovereign Financing Deal of the Year" which was awarded to Oman Electricity Transmission Company in connection with its issuance of $1 billion notes, and which is understood to be the largest international capital markets issuance out of Oman. We acted alongside Dechert, Dentons, JP Morgan and Bank Muscat.

Noor Sukuk Company Limited took home the award for "Financial Institution Financing Deal of the Year". Walkers acted as Cayman Islands legal counsel to the issuance of US$500m certificates advising alongside Allen and Overy, Latham & Watkins and Standard Chartered Bank.

Flydubai issued US$500 certificates, via Al Shindagha Sukuk which was recognised in the category of "Bond / Sukuk Deal of the Year by a Debut Issuer". Walkers acted as Irish Listing Agent and Cayman Islands legal counsel on this debut transaction for flydubai working alongside Clifford Chance, Linklaters and a number of joint lead managers.

Walkers provides fully-integrated legal, fiduciary and Irish listing services to our international client base, effectively offering a "one stop shop" for our clients and a wide range of options for structuring financial services transactions, with Walkers' Dubai and Dublin offices having significant experience in this field. We have developed a leading practice as offshore counsel across a broad range of Islamic Finance products including in the field of Sukuk, Sharia'h-compliant bonds, as a means of accessing capital while still adhering to Islamic religious principles. The Cayman Islands strong reputation in global finance has led to the Cayman Islands having become the preferred offshore jurisdiction for domiciling the issuer vehicles.

Many congratulations to our Dubai and Dublin teams as well as all parties involved.

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