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Allen & Overy is Best Overall Law Firm in Islamic Finance

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Anzal Mohammed

Partner

Dubai

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25 February 2014

Allen & Overy has been recognised as the “Best Overall Law Firm in Islamic Finance” for the third consecutive year at the annual Islamic Finance News Awards ceremony held in Dubai last night. The firm received a record fifteen awards which beats the previous record of twelve awards that the firm received in 2012.

Allen & Overy received the “Deal of the Year” award in nine different categories, including “Deal of the Year”, “Restructuring Deal of the Year”, “Corporate Finance Deal of the Year”, “Murabahah Deal of the Year”, “Project Finance & Infrastructure Deal of the Year”, “Sukuk Deal of the Year”, “Sovereign Deal of the Year”, “Tawarruq Deal of the Year” and “Trade Finance Deal of the Year”, as well as being recognised for “Saudi Arabia Deal of the Year” and “UAE Deal of the Year”.

Most pleasingly, however, the firm also won the most coveted award of the night for “Best Overall Law Firm in Islamic Finance”, for the third consecutive year, reinforcing Allen & Overy’s reputation as the market leader in Islamic finance.

Partner and Head of the Global Islamic Finance Group, Anzal Mohammed, commented: “We are delighted to have, once again, set a new record for the most IFN awards won in a single year. During the course of 2013, Allen & Overy has again advised on many of the most high profile and ground-breaking Islamic finance transactions that were completed globally. We are pleased to have been recognised for transactions that were led by six different offices within our global network, which demonstrates the depth and quality of our truly global Islamic finance practice.”

The full list of IFN Awards that Allen & Overy received are set out below:

  • “Best Overall Law Firm in Islamic Finance”
  • “Best Law Firm in Banking & Capital Markets”
  • “Best Law Firm in Insolvency & Restructuring”
  • “Best Law Firm in Mergers & Acquisitions”
  • “Deal of the Year” – International Islamic Liquidity Management Corporation (IILM) USD490 million sukuk
  • “Restructuring Deal of the Year” – A’ayan Leasing and Investment Co. USD1.3 billion debt restructuring
  • “Corporate Finance Deal of the Year” – Sime Darby USD800 million dual tranche sukuk
  • “Murabahah Deal of the Year” – Etihad Etisalat Company (Mobily) USD645 million ECA financing
  • “Project Finance & Infrastructure Deal of the Year” – Sadara Basic Services Co. SAR7.5 billion project sukuk
  • “Sukuk Deal of the Year” – International Islamic Liquidity Management Corporation (IILM) USD490 million sukuk
  • “Sovereign Deal of the Year” – GACA SAR15.211 billion sukuk
  • “Tawarruq Deal of the Year” – Maran Nakilat Co. USD662.4 million revolving commodity murabahah facility
  • “Trade Finance Deal of the Year” – Etihad Etisalat Company (Mobily) USD645 million ECA financing
  • “Saudi Arabia Deal of the Year” – Sadara Basic Services Co. SAR7.5 billion project sukuk
  • “UAE Deal of the Year” – Dubai DOF USD750 million sukuk

Earlier this month, it was announced that Allen & Overy had advised on the majority of the transactions that were recognised as “Deals of the Year” at the Euromoney Islamic Finance Awards 2014 held in London, being four of the six categories as follows:

  • “Most innovative Islamic deal” – Khazanah SGD600 million exchangeable sukuk into IHH shares
  • “Best Islamic finance deal of the year” – Saudi Electricity USD2 billion 10-year and 30-year sukuk
  • “Best sukuk deal” – Emirates USD1 billion amortising sukuk
  • “Best Islamic local-currency deal of the year” – Almarai SAR1.7 billion perpetual corporate hybrid sukuk

These prestigious awards were preceded by recognition at the annual IFLR awards ceremonies held in 2013 in Asia (“Debt and Equity-linked Deal of the Year” – Axiata multi-currency sukuk programme) and in the Middle East (“Debt and Equity-linked Deal of the Year” – Emirates sukuk).

For further information on the above, please contact Jane King at jane.king@allenovery.com or on +971 4 426 7138.