White & Case advises on Arab Petroleum’s GMTN and Trust Certificate programmes update
White & Case advised arranger Citigroup, as well as the dealers, in connection with the update of Arab Petroleum Investments Corporation’s Global Medium Term Note Programme (GMTN Programme) and Trust Certificate Issuance Programme.
The dealers consortium included Citigroup, Emirates NBD Bank PJSC (ENBD), First Abu Dhabi Bank, HSBC Bank, J.P. Morgan Securities, Mashreqbank (Mashreqbank) and Standard Chartered Bank, with the addition of Abu Dhabi Islamic Bank and Dubai Islamic Bank on the Trust Certificate Issuance Programme.
Both the GMTN Programme and the Trust Certificate Issuance Programme were approved by the Central Bank of Ireland and listed on Euronext Dublin. The Trust Certificate Issuance Programme was also approved by the Dubai Financial Services Authority and listed on Nasdaq Dubai.
Moreover, White & Case also advised the managers on the subsequent issuance of AAOIFI-compliant Wakala-Murabaha ten-year US$500 million Trust Certificates due 2036 under the Trust Certificates Issuance Programme.
The managers on the deal in question included Abu Dhabi Islamic Bank PJSC, Al Dawli Invest Investment Company (KIB Invest), Citigroup, Dubai Islamic Bank, ENBD, KFH Capital Investment Company, Mashreqbank, Nomura International and SCB.
The White & Case team
Partner Debashis Dey (Dubai & London, pictured) led the White & Case team on the matter. The firm lineup further included local partner Marcin Zawadzki (Dubai), as well as associates Amir Mehdizadeh Iranpour and Patrick Chindo (both Dubai).
