STAT Law Firm advises Morabaha Marina Financing Company in relation to its Sukuk

January 8th, 2020

STAT Law Firm acted for Morabaha Marina Financing Company in relation to the update of its SAR400,000,000 Sukuk Issuance Programme (the “Programme”) and its second issuance thereunder of SAR80,000,000 Fixed Rate Amortising Sukuk due 2022. Albilad Investment Company acted as Dealer, Arranger and Sukukholder’s Agent in respect of the Programme and was represented by Akin Gump Strauss Hauer & Feld LLP. The transaction was led by Faris Al Amoudi, our Islamic finance and banking partner, and Mishari Alabbad and Robert Vydra, our capital markets partners. The STAT Law Firm team was supported by counsel Yasser Alkhelaiwi, and associates Khalid Alnafa, Haya Alonaiz, Abdullah Tash and Hatem Abdulghaffar. STAT Law Firm’s team members have extensive experience in landmark debt capital markets transactions for Saudi issuers, including advising: (i) Saudi Aramco on the establishment of its first SAR 37.5 billion Sukuk Issuance Programme and its debut SAR 11.25 billion Sukuk issuance thereunder; (ii) Saudi Real Estate Refinance Company on the establishment of its Sukuk Issuance Programme and its debut issuances of SAR150,000,000 Sukuk due 2023, SAR50,000,000 Sukuk due 2025 and SAR 50,000,000 Sukuk due 2028; and (iii) advising the Arrangers and Dealers on the establishment of the Global Sukuk Programme of the Kingdom of Saudi Arabia (acting through the Ministry of Finance) and the issuance thereunder.

Who we are

STAT is a result of the merger of the Law Firm of AlSalloum and AlToaimi, the best law firm in Saudi Arabia pursuant to 2017 IFLR Middle East Awards and emeafinance Middle East Banking Awards 2017, with the Law Firm of Turkistani & Alabbad, a leading Saudi Arabian law firm. With six partners, one counsel and over a dozen associates, STAT has one of the largest teams on-the-ground in Saudi Arabia, offering Saudi and international clients a dedicated and experienced team of Saudi, English and New York qualified lawyers. All our lawyers have been trained at large international law firms in Saudi Arabia, the USA, Europe and other countries in the Middle East, and most of our lawyers are dual educated.

Market-leading integrated Saudi Arabian legal practice

Our team thrives amid challenges of complex and novel legal issues. We regularly advise Saudi Arabia’s and the world’s leading corporates and financial institutions, government-related enterprises and government bodies on many of the most innovative and complex transactions in Saudi Arabia. Our capabilities cover a wide range of practice areas, including corporate and M&A matters, equity and debt capital markets, banking and Islamic finance, regulatory and dispute resolution. In addition to our depth of experience and awareness of market practice, clients know they will benefit from our team’s innovative mindset and willingness to design optimal — and at times completely unique — structures to achieve their legal and business objectives.

We work across various practice areas as integrated, multidisciplinary teams. Beyond delivering exceptional results, we are fiercely committed to client service and quality, forging many long-standing relationships.

If you have any questions please do not hesistate to contact any of our senior lawyers, whose contact details are as follows

 
Zeyad Y. AlSalloum
Co-Managing Partner
 
zalsalloum@statlawksa.com
 
 
Jihad A. Turkistani
Co-Managing Partner
 
jturkistani@statlawksa.com
 
 
Mishari A. S. Alabbad
Partner
 
malabbad@statlawksa.com
 
 
Faris A. Al Amoudi
Partner
 
falamoudi@statlawksa.com
 
 
Yazeed A. Al-Toaimi
Partner
 
yaltoaimi@statlawksa.com
 
 
Robert Vydra
Partner
 
rvydra@statlawksa.com
 
 
Yasser Alkhelaiwi
Counsel
 
yalkhelaiwi@statlawksa.com
 
 
STAT
 
Sky Towers, Northern Tower,2nd Floor,
King Fahad Road,Olaya,Riyadh,
Kingdom of Saudi Arabia.
 
T: +966 11 202 0344
F: +966 11 229 2069
 
statlawksa.com