Walkers has advised Saudi Binladin Group Sukuk Ltd on the issuance of its fourth short-term sukuk al-murabaha, part of an approximately 12 billion Saudi riyal ($3.2 billion)financing of one of the phases of construction and development of Jeddah’s King Abdulaziz International Airport.
Baker & McKenzie advised the guarantor, Saudi Binladin Group, with Clifford Chance and Al-Jadaan & Partners Law Firm advising BNP Paribas Investment Company KSA and GIB Capital in their roles as joint lead managers and bookrunners.
Because of Jeddah's proximity to Islam's holy city of Mecca, the airport is the busiest in the kingdom. Its Hajj Terminal is specially built to handle pilgrims taking part in the annual Hajj, and can accommodate 80,000 travellers at the same time.
The Clifford Chance Dubai team was led by capital markets partner Stuart Ure with the support of partner Qudeer Latif, while the Al-Jadaan team was led by Mohammed Al-Jadaan.
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