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.

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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.

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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.

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Zeyad AlSalloum
Mishari Alabbad
Faris Al Amoudi
Yazeed Al-Toaimi
Managing Partner
Robert Vydra
Yasser Alkhelaiwi
Majed Alkuraydis
Mansour Alobaidallah
Khalid AlNafa
Khalid Algublan
Haya Alonaiz
May Alajlan
Hatem Abdulghaffar
Wejdan Aljohani
Saad Al-Tukhaifi
Tala Alkhateeb
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King Fahad Road,Olaya,Riyadh,
Kingdom of Saudi Arabia.
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