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Dentons with IsDB on its issuance

Dentons advised the Islamic Development Bank (IsDB) on the issuance of US$2 billion trust certificates under its US$25 billion trust certificate issuance programme. Dentons acted as an advisor for the IsDB on the issuance of debt securities in the international capital markets under its sukuk programme.

On the transaction

The transaction closed on 15 May 2024 and was issued through a Luxembourg-based special purpose vehicle, listed on Euronext Dublin and NASDAQ Dubai and offered to non-US investors under Regulation S of the US Securities Act of 1933. Major international and regional banks acted as lead managers on the issuance.

Partner Alex Roussos (pictured right) led Dubai Denton’s team, which further comprised senior associate Sana Siddiqui, paralegal Joseph Hunt and trainee Jasim Alzaabi.

As for the Dentons Luxembourg team, partners Stéphane Hadet and Jean-Luc Fisch led it, together with counsel Olivier Lesage and associate Arnida Alija.