Debt Capital Market [dcm]
In addition to the above equity offerings, we list debt instruments on the Saudi stock exchange. Our team members advised and assisted AlKathiri Holding Company (a Saudi Public Joint Stock Company) (acting as a sponsor) on its Sukuk issuance (Sukuk AlKathiri*), at the value of SR 500 million, via IPO on the Saudi Stock Exchange (“Tadawul”); the main market. This is the first offering of its type, as the issuer is a special purpose entity (SPE) (Sukuk AlKathiri), that was established in accordance with the CMA’s new regulations. The scope of legal services includes drafting the Sukuk documentation, including: Master Declaration of Agency, Programme Agreement, Payment Administration, Master Murabaha and the Mudaraba agreements etc. Our services additionally include holding the pen on the offering documentation and the CMA & Tadawul Documentary Requirements. In addition, our Firm is currently advising a company listed on the Nomu Market in relation to its Sukuk program issuance.
*The above representations were handled by our team members prior to joining KLA Law Firm.