October 26, 2016 – Kuwait City, Kuwait – Meysan Partners, the Kuwait based corporate law firm, advised Ahli United Bank on its international issuance of USD 200 Million Tier 1 Capital Sukuk which is the first Basel III compliant Sukuk issuance for the bank. The issuance will enhance the bank’s capital base in line with Basel III guidelines.
Meysan Partners worked closely with the bank and with the joint lead managers, Citigroup, Crédit Agricole CIB, Credit Suisse and Kuwait and Middle East Financial Investment Company on the structuring of the issuance, the transaction documents and the management of the regulatory processes. Meysan Partners further represented the obligor, Ahli United Bank, before the Capital Markets Authority in Kuwait to secure the approvals on the issuance and the onshore offering and marketing of the Sukuk in Kuwait.
The Meysan Partners team was led by Abdul Aziz Al-Yaqout and Tarek Yehya. Meysan Partners was awarded IFLR’s “Debt and Equity-Linked Deal of the Year” in October 2016 for its role in the Boubyan Bank Tier 1 Sukuk Issuance.