White & Case and The Law Office of Megren M. Al-Shaalan advise on Al Rajhi Banking and Investment Corporation's inaugural issuance of US$1 billion Senior Sustainable Certificates

Global law firm White & Case LLP and the Law Office of Megren M. Al-Shaalan have advised the arrangers and dealers on the establishment by Al Rajhi Banking and Investment Corporation of a US$4 billon Trust Certificate Issuance Programme.

White & Case also advised the managers on the inaugural issuance of US$1 billion Senior Sustainable Certificates due 2028 under the programme.

"White & Case has advised the joint lead managers on the international debut issuance by Al Rajhi Bank, a significant transaction which represents its debut as an issuer of 'green sukuk' and also an important development in the international sukuk markets," said White & Case partner Debashis Dey, who led the Firm's deal team. 

The drawdown marks the issuance of the first series under Al Rajhi Trustee Limited's Trust Certificate Issuance International Programme. Al Rajhi Capital Company, Citigroup Global Markets Limited, Emirates NBD Capital, Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc, KFH Capital and Standard Chartered Bank acted as joint lead managers.

The White & Case team that advised on the transaction was led by partner Debashis Dey (Dubai & London) and included local partner Xuan Jin (Hong Kong) and associates Eren Ayanlar and Ghislaino Kamdo (both Dubai). The Law Office of Megren M. Al-Shaalan team in Riyadh included partner Megren Al-Shaalan, local partner Waad Alkurini and associate Nezar Al-Abbas.

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