STAT' Law Firm Advises Morahaha Marina Financing Company In Relation To Its Sukuk




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 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.

Mishari A. S. Alabbad

Mishari represents corporate clients and financial institutions on a variety of corporate and securities business matters, with a…

Robert Vydra

Robert Vydra is a partner in our Saudi Arabian Capital Markets practice. He has been practising in Saudi Arabia since 2007 and has worked…

Yasser Alkhelaiwi

Yasser Alkhelaiwi is a counsel in our Saudi Arabian Capital Markets practice. He has extensive experience in advising regional clients in…