Dentons advises the Islamic Development Bank on sukuk issuance

The issuance was listed on Euronext Dublin and NASDAQ Dubai, and was offered to sophisticated investors outside the US in reliance on Regulation S under the US Securities Act 1933

Press Release

October 29, 2024

PHOTO

Dubai – Dentons has advised the Islamic Development Bank (IsDB) on the issuance of US$1.25 billion trust certificates under its US$25 billion trust certificate issuance programme. The transaction was successfully completed on 15 October 2024 and the issuance was made through a special purpose vehicle issuer incorporated in Luxembourg.

Dentons has regularly advised the IsDB on the issuance of debt securities in the international capital markets under its sukuk programme.

The issuance was listed on Euronext Dublin and NASDAQ Dubai, and was offered to sophisticated investors outside the US in reliance on Regulation S under the US Securities Act 1933. A number of major international and regional banks acted as lead managers on the issuance.

The Dentons team in Dubai was led by partner Alex Roussos, with assistance from senior associate Brian O'Leary, associate Ben Suthers and paralegal Naomi Scheyerle. The Dentons team in Luxembourg was led by partners Stéphane Hadet and Jean-Luc Fisch, with assistance from counsel Olivier Lesage and associate Arnida Alija.

Click here to read the press release on the Dentons website.

Send us your press releases to pressrelease.zawya@lseg.com

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

© ZAWYA 2024