AS&H in AlRajhi Bank Tier 1 Sukuk listing on Saudi Exchange

Abuhimed Alsheikh Alhagbani Law Firm (“AS&H”) in co-operation with Clifford Chance has advised Al Rajhi Capital as sole arranger and lead manager in relation to the establishment of the SAR 10 billion Al Rajhi Bank Additional Tier 1 Capital Sukuk issuance programme and the public offering of SAR 10 billion Sukuk thereunder. 

The transaction marks the first public debt offering pursuant to the Capital Market Authority’s Rules on the Offer of Securities and Continuing Obligations. 

The AS&H team was led by Yasser Al-Hussain (partner and head of banking & finance, pictured). Mansoor Alhagbani (partner and head of capital markets and financial regulatory) advised on regulatory aspects of this transaction. The partners were supported by senior associate Ali Moiz Ansari and associates Ibrahim Al-Mansour (as lead associate), Mohammed Ghazzawi and Aljoahra BinAhmed

The Clifford Chance team was led by partner Stuart Ure who was supported by senior associate Julian Walley and associate Benedetta Tola