Skip to main content

Allen & Overy and Linklaters have advised on the Hong Kong government’s issuance of sukuk, or Islamic bonds, which raised $1 billion.

The issuance is the second time the Hong Kong government has tapped the Islamic finance market, after it raised $1 billion from its inaugural sukuk issuance last September.

Allen & Overy represented the Hong Kong government on the issuance, with a team led by capital markets partners Yvonne Siew in Hong Kong and Ken Aboud in Singapore.

A Linklaters team led by Hong Kong partners Andrew Malcolm and Kevin Wong advised the joint bookrunners and joint lead managers, which included HSBC, Standard Chartered, CIMB and the National Bank of Abu Dhabi.

“This was the first issuance of sukuk using a wakalah structure out of Hong Kong and needed to be structured carefully to ensure the correct tax treatment under Hong Kong regulations, while continuing to comply with Shariah principles,” said Linkaters’ Wong, in a statement.

Related Articles

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.