Norton Rose Fulbright advises Emirates on $600m Sukuk issuance

Global Business March 27, 2018

Global law firm Norton Rose Fulbright has advised Emirates on its US$600 million Sukuk.

The certificates were issued on 22 March 2018 and admitted to listing and trading on the regulated market of the Irish Stock Exchange and on NASDAQ Dubai. The proceeds will be used for general corporate purposes including aircraft financing and working capital.

Citi and Standard Chartered Bank acted as global coordinators and joint lead managers, along with Abu Dhabi Islamic Bank, BNP Paribas, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan and Noor Bank as joint lead managers.

Gregory Man, partner, Norton Rose Fulbright, comments:

“Having advised longstanding client Emirates on its UK export finance backed Sukuk in 2015, we are pleased to have assisted on this notable Sukuk issuance. The transaction builds on our track record of advising on significant debt capital markets transactions in the region.”

The Norton Rose Fulbright team was led by partner in Dubai, Gregory Man and included senior associate Ganna Vlasenko and counsel Shauaib Mirza.

In 2015 Norton Rose Fulbright advised Emirates on its US$913 million Sukuk, marking a world first for utilising a UK export finance backed Sukuk for an aircraft financing.

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Notes for editors:

Norton Rose Fulbright

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