Arada Developments (‘Arada’), a major property developer in the Northern Emirates of the UAE, has completed its successful second tap issuance of USD 50 million sukuk with the assistance of Dentons. The transaction was successfully completed on 16 February 2023 with Mashreqbank, acting through its Islamic Banking Division, acting as the sole manager of the issuance, […]
Banking & Finance
Deal & transactions
United Arab Emirates
ADGM and Zand Bank partner to support Abu Dhabi’s Tech
With its in-house legal team led by Eyad Mahadeen (pictured), chief legal officer and board secretary at ADGM, Abu Dhabi Global Market (ADGM) have joined forces with the UAE’s first all-digital bank
International law firm Clifford Chance has recently advised the Government of the Emirate of Sharjah on its historic sustainable bond issuance, marking the first time a GCC sovereign has issued such a bond. The Sharjah
Egypt has made history by issuing its first-ever sovereign Islamic sukuk, and it has proven to be a resounding success. The issuance was oversubscribed by more than 4 times, with subscriptions amounting to USD6.1 billion for
The National Telecom Regulatory Authority (NTRA) has accepted Telecom Egypt’s financial and technical offer to obtain an additional 5MHz of spectrum in the 1800MHz band using FDD technology. The 10-year spectrum allocation was competitively
Banking & Finance
United Arab Emirates
Clifford Chance: Emirates Islamic issues AED-denominated sukuk
International law firm Clifford Chance provided advisory services to Emirates Islamic, a prominent Islamic bank in the UAE and 99.9% owned by Emirates NBD Bank, for the issuance of AED 1 billion 5.050 per cent. sukuk that matures
Banking & Finance
Deal & transactions
Egypt
Saudi Arabia
Riad & Riad and Fintech Buddy Saudi Arabia join forces
Fintech Buddy Saudi Arabia, a one-stop shop platform that provides professional services for startups and foreign companies (sponsored by The Law Firm of Nasreen Alissa), signed a Memorandum of Understanding (MoU) with Riad & Riad
Banking & Finance
Egypt
Healthcare, Pharma & Life Sciences
B Investments and TSFE invest in Egypt’s healthcare sector
The Sovereign Fund of Egypt (“TSFE”) through its healthcare and pharmaceutical industries Subfund (“TSFE Healthcare & Pharma Subfund”) and B Investments Holding (“B Investments”), BPE Partners’ flagship investment vehicle, have signed an agreement to
Chimera Investment has acquired 45% of GB Lease, a subsidiary of GB Auto, for EGP 855 million. This transaction comes as the latest episode in a series of investments made by Chimera in the non-banking financial services
Asafo & Co. advised 54 Capital on its USD21 million growth capital investment, alongside Norfund, in Ethiopian fast-moving consumer goods (FMCG) platform SAMANU. 54 Capital managed a consortium of private investors and worked alongside Norfund in this
