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Government of Dubai inaugural sukuk

- US$2,000.00 m

  • Entry date - Monday, 4 January 2010
  • Jurisdiction - United Arab Emirates
  • Practice - Islamic Finance
  • largest sovereign sukuk ever and largest international sukuk from the Middle East in 2009


  • Firm - Allen & Overy
  • Client - National Bank of Abu Dhabi
  • Lead Lawyers - Anzal Mohammed, Roger Wedderburn-Day
  • Role - Int Counsel
  • Firm - Maples and Calder
  • Client - Dubai DOF Sukuk
  • Lead Lawyers -
  • Role -
  • Firm - Taylor Wessing
  • Client - Government of Dubai
  • Lead Lawyers -
  • Role - Counsel to issuer

Deal summary

  • Government of Dubai, through Dubai DOF Sukuk issued sukuk in two tranches under new Trust Certificate Issuance Program. Listed on both London Stock Exchange and Dubai Financial Market

  • Both largest sovereign sukuk ever and largest international sukuk from the Middle East in 2009.

  • Follow recent Tourism Development & Investment Company’s US$1.45bn sukuk trust certificate issuance program in the UAE,

  • Allen & Overy advised Emirate of Abu Dhabi, Emirate of Ras Al Khaimah on their respective international capital markets issues earlier in 2009.










“This is a significant transaction for both the Emirate of Dubai and the international Islamic capital markets. An order book of approximately US$6.5bn underlines continued investor confidence in sovereign and sovereign-related issuers from the region.” Anzal Mohammed, Allen & Overy.




 


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