Mayer Brown advises Al Khair Capital on a public Sukuk issuance by Al Kathiri Holding
London — Mayer Brown has advised leading Saudi financial services company Al Khair Capital in connection with the arrangement of a public Sukuk issuance by Saudi industrial and manufacturing company, Al Kathiri Holding.
The issuance is part of a SAR 500,000,000 (c.$130,000,000) Sukuk al-Mudaraba/Sukuk al-Murabaha programme and is the Kingdom’s first publicly-listed programme of its kind, providing Al Kathiri with the flexibility to issue Sukuk at appropriate intervals to meet the operational needs of the group, as well as an option to upsize the total value of the programme.
The team was led by partners Barry Cosgrave and Jad Taha, supported by senior associate Chris Street. Marc Saroufim of Al Akeel & Partners (in cooperation with Mayer Brown) provided support on Saudi legal issues.