STAT Law Firm advises Morabaha 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.

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