Clifford Chance

Clifford Chance advises on seven IFN Deals of the Year in 2020

Clifford Chance advised on seven award-winning transactions at the IFN Deal of the Year Awards 2020 across the following categories:

• Corporate finance Deal of the Year was awarded to Saudi Electricity Company (SEC) for its SAR168 billion recapitilaization exercise. AS&H in co-operation with Clifford Chance advised SEC on the conversion and restructuring of its financial liabilities to the government into a Shariah compliant subordinated financial 'equity-like' Mudarabah. This was the largest Islamic Finance transaction to ever be executed.
• Saudi Arabia Country Deal of the Year was also awarded to SEC for its SAR168 billion recapitilaization exercise, where AS&H in co-operation with Clifford Chance advised SEC.
• Mudarabah Deal of the Year was awarded to DP World in relation to its US$1.5 billion perpetual sukuk. Clifford Chance advised DP World on the transaction, which was the largest corporate hybrid issuance in the MENA region to date, as well as the first corporate hybrid Sukuk to have an international rating.
• Perpetual Deal of the Year was also awarded to DP World in relation to its US$1.5 billion perpetual sukuk, on which Clifford Chance advised DP World.
• UAE Country Deal of the Year was also awarded to DP World in relation to its US$1.5 billion perpetual sukuk, on which Clifford Chance advised DP World.
• Regulatory Deal of the Year was awarded to KT AT ONE CO’S for its US$250 million tier 1 issuances. Clifford Chance advised KFH Capital as Arrangers on the transaction.
• Social Impact SRI / EDG Deal of the Year was awarded to Islamic Development Bank (IsDB) for its US$1.5 billion sustainable sukuk. Clifford Chance advised the Arrangers on this innovative transaction whereby proceeds from the debut sustainable issuance will be used to finance social projects to assist the IsDB's member countries with managing the impact of the COVID-19 pandemic.

"We congratulate our clients on this well-deserved recognition for leading some of the most innovative and diverse transactions ever seen in the Islamic Finance industry." said partner Qudeer Latif, Global Head of Islamic Finance for Clifford Chance. "We also thank them for putting their trust in us as a law firm of choice for these market leading deals."