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Husayn Reza



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Husayn Reza



Husayn is a counsel in our international capital markets team and has over 12 years of international finance experience. Husayn is one of the most experienced Islamic finance lawyers in the Asia-Pacific region, having been involved on landmark deals for sovereigns, state-owned entities and corporates in Asia-Pacific and the Middle East.

He represents issuers and underwriters across the Asia-Pacific region on a variety of debt and equity-linked capital markets transactions, including Rule 144A and Regulation S programmes/issuances, convertible and exchangeable bonds, regulatory capital issuances, covered bonds and project bonds. He has advised on complex bond restructurings, bespoke high yield issuances and bridge to bond instruments, along with various liability management exercises.

Husayn has extensive experience on a range of renewable energy project finance transactions, particularly in Pakistan. He has advised various independent power producers on the development and project financing of over 15 power projects, primarily in the renewable energy sector. Husayn was also involved in drafting industry standard templates for wind power concession documents in Pakistan.

Husayn is recognised for his wide coverage of products and jurisdictions, having acted on market leading transactions across Malaysia, Indonesia, Thailand, Singapore, Pakistan, Australia, Philippines, Hong Kong, India, Bangladesh and Brunei.

Husayn is a ranked lawyer in the ‘Spotlight Table’ by Chambers Asia Pacific 2023 and is ranked as a Rising Star in the IFLR Asia Pacific Awards. He is described by clients as “a very good lawyer with up-to-date market knowledge and the ability to provide good advice within stipulated timeframes" and that "he understands the complex nature of Islamic finance documentation".

Experience highlights

Related articles

News: 07 June 2022

Allen & Overy advises the Republic of Indonesia on its largest ever global Sukuk offering

Read more Allen & Overy advises the Republic of Indonesia on its largest ever global Sukuk offering

Publications: 16 June 2020

POJK 30/2019: OJK regulates private placements, with certain global bonds being exempted but some uncertainty remaining

Read more POJK 30/2019: OJK regulates private placements, with certain global bonds being exempted but some uncertainty remaining



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Admitted as a Solicitor (England and Wales), 2020

Admitted as an Advocate, Punjab, Pakistan, 2013


LLB, Law, University of Warwick, 2009

LPC, University of Law, London, 2010

Other noteworthy experience


  • The joint lead managers on the establishment of Telekom Malaysia’s Reg S USD750m Multicurrency Sukuk Programme. The sukuk employed an innovative Wakalah structure with the underlying assets comprising of vouchers representing (1) minutes of airtime on Telekom Malaysia’s mobile fixed telecommunications network or (2) a specified number of units of high speed broadband services on Telekom Malaysia’s telecommunications network; as well as a commodity Murabahah component
  • Cagamas Berhad in relation to an update of its USD2.5bn sukuk issuance programme and USD2.5bn Multicurrency Medium Term Note Programme
  • Axiata on its dual-tranche bond issuances of USD1bn notes under its EMTN program and USD500m sukuk under its sukuk program. This marked Axiata's first landmark issuance in the international capital markets since 2016 and was the single largest as well as longest dated offering to-date. Awarded Best investment grade bond by The Asset Country Awards 2020, Malaysia
  • The joint global coordinators, joint structuring agents and joint lead managers on the offering of USD400m fixed rate reset subordinated notes due 2037 by Muang Thai Life Assurance Public Company Limited. The transaction was the first offshore regulatory compliant Tier-2 issuance by a Thailand-based insurance company and it also represented Muang Thai Life’s debut issuance in the international capital markets
  • The joint lead managers on the USD325m 3.133 per cent. Notes due 2025 issued by Vena Energy Capital Pte Ltd. This was the first corporate US-dollar green bond issue from a Singapore-based company
  • The dealer manager in relation to the innovative tender offer and consent solicitation by Sime Darby with respect to issuances under its USD1.5 billion sukuk programme. This exercise entailed a novation of all rights and obligations of Sime Darby under its sukuk issuances and programme to a new obligor and formed part of a broader reorganisation
  • Garuda Indonesia on the consent solicitation exercise in relation to its USD500m Sukuk due 2020. This exercise was a market-first with respect to amending a Sukuk structure that was based on rights to travel/ASKs (as the underlying Shariah-compliant assets)
  • Suzlon Energy Limited on the restructuring and consent solicitation relating to its USD546,916,000 step-up convertible bonds due 2019. The bond restructuring involved holders choosing between two options to restructure the bonds, i.e. (i) the conversion of the principal amount of bonds held by the holder into shares; or (ii) the substitution of the bonds held by the relevant holder with new USD denominated convertible bonds due 2023 to be issued by the issuer
  • The joint lead managers on the issuance of SGD550m fixed reset subordinated (Tier 2) notes due 2031 by Aviva Singlife Holdings Pte. Ltd. and “a bridge-to-bond facility” agreement. The proceeds of the Tier 2 Notes were used to finance the acquisition of Aviva Ltd. (Aviva Singapore) by a consortium comprising an investment fund, certain existing shareholders of Singapore Life Pte. Ltd. (Singlife) and Aviva Plc (the Acquisition). The transaction represented one of the few bridge to bond structures successfully used in Asia to finance a leveraged acquisition - whilst complying with Tier 2 capital requirements
  • The bookrunners in relation to the bond financing portion of the leveraged buyout of Ambuja Cements Limited and ACC Limited, entities listed on the NSE in India, by the Adani Group. This represented the largest ever M&A transaction in the infrastructure and materials sector in India and the largest acquisition to date by Adani