The Dubai office of Clifford Chance LLP has advised Emirates Islamic Bank P.J.S.C. (EIB) and Emirates NBD P.J.S.C. (ENBD) on the issuance by EIB Sukuk Company Ltd. of London Stock Exchange listed $500m trust certificates due 2017 (the EIB Sukuk) under its $1bn Trust Certificate Issuance Programme.
The EIB Sukuk confer on the certificateholders the right to receive certain payments arising from certain Shari’a compliant assets of EIB and have the benefit of a guarantee given by ENBD in respect of certain of EIB’s obligations in respect of the EIB Sukuk. (Press Release)