TITLE

A&O, CC, DWS win roles on record Islamic bond

AUTHOR(S)
Cushnie, Lorraine
PUB. DATE
December 2005
SOURCE
Lawyer;12/12/2005, Vol. 19 Issue 48, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article informs that law firms Allen & Overy, Clifford Chance, and Denton Wilde Sapte, have been contracted to give advice regarding the issue of Islamic bonds. The landmark Islamic bond, that is, Sukuk, is being used to finance container terminal operator DP World's acquisition bid for P&O Ltd. The financing deal includes a 6.5 billion dollars loan and a 9.3 billion dollars Islamic bond issue. The bond will be launched as a pre-initial public offering (IPO) convertible issue. The demand for the bond is likely to be very high as IPOs are popular in the Middle East.
ACCESSION #
19737729

 

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