Clifford Chance

Clifford Chance advises on five IFN Deals of the Year in 2021

Clifford Chance has advised on five award-winning transactions at the Islamic Finance News (IFN) Deal of the Year Awards 2021 across the following categories:

• Corporate Finance Deal of the Year was awarded to Food Security Company’s SAR2.18 billion acquisition of Second Milling Company from the National Center for Privatisation & PPP on which Clifford Chance (in co-operation with AS&H Law Firm) advised. Together with the sale of three other milling companies by the Kingdom, the transaction represents a significant milestone in the Kingdom’s use of the private sector to acquire, build or operate public infrastructure assets.
• Real Estate Deal of the Year was awarded to Jabal Omar Development Company’s (JODC) SAR6 billion refinancing. Clifford Chance (in co-operation with AS&H Law Firm) advised the banks on this complex deal which involved an extension of maturity.
• Sovereign & Multilateral Deal of the Year was awarded to the UK Government’s GBP500 million sovereign Sukuk issuance. Clifford Chance advised the UK Government (acting through the DMO/HM Treasury) on the transaction to help in its aim to diversify its funding source and attract a Islamic investor base.
• Kuwait Deal of the Year was awarded to Kuwait Finance House’s (KFH) US$750 million Tier 1 Sukuk deal. Clifford Chance advised KFH, this being its first foray into the regulatory capital space.
• Turkey Deal of the Year was awarded to Kuveyt Turk Katilim Bankasi’s US$350 million Tier 2 sustainability Sukuk issuance. Clifford Chance advised the joint lead managers in conenciton with this issuance which was the first regulatory capital sustainability sukuk globally.

Clifford Chance's Middle East Financial Markets team has had an impressive year, garnering no less than 26 deal and team awards in the past twelve months from leading organisations such as Islamic Finance News and International Financial Law Review, in addition to Bonds, Loans & Sukuk and IJ Global.

Qudeer Latif, Global Head of Islamic Finance comments "These awards are a reflection of the strength and depth of our global Islamic finance practice and the amazing wider Clifford Chance team. I would also like to thank our clients for putting their trust in us for these important transactions".