International law firm Allen & Overy has advised the lead arrangers and dealers for Banque Saudi Fransi’s $2 billion Islamic bond, or sukuk programme, as shown by a prospectus filed on the London Stock Exchange.

Citigroup, Credit Agricole, Deutsche Bank and Saudi Fransi Capital are arrangers and dealers on the programme. Allen & Overy’s team was led by Dubai-based partner Anzal Mohammed and supported by associate, Paul Phelps.

Global law firms Baker & McKenzie and Maples & Calder advised Banque Saudi Fransi on the programme.

Last week, Banque Saudi Fransi mandated Citigroup, Credit Agricole and Deutsche Bank to arrange global fixed income meetings starting on Monday. Roadshows will begin in Riyadh, followed by the United Arab Emirates, Singapore and Kuala Lumpur before culminating in London on May 11.

In a statement, the banks said a benchmark dollar-denominated sukuk might follow, falling under Banque Saudi Fransi’s newly established programme. Benchmark is usually understood to mean at least $500 million. Allen & Overy are advising the arrangers on the potential sukuk issuance while Baker & McKenzie will continue to act on behalf of Banque Saudi Fransi. ALB

Shaheen Pasha is Middle East Regional Editor at ALB. Follow her on Twitter: @ALB_TheBrief.

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