Ciaran Bohnacker
Partner
Dubai
Having bid farewell to 2024, we are thrilled to highlight some of the most notable and recognised Sukuk and Debt Capital Market deals our Dubai based finance team have advised on.
The team, led by Ciaran Bohnacker and Szymon Durlo, have played a key role in supporting our clients and stakeholders to bring to market many of the Middle East's most significant issuances – with numerous awards along the way.
Deal Highlights
- US$3 billion issued under a programme established by GACI First Investment Company (PIF)
- US$2.5 billion programme established by Mashreq Al Islami Sukuk Company Ltd. (Mashreqbank)
- US$500 million issued under a programme established by GFH Senior Sukuk Limited (GFH)
- US$500 million issued by OTEL Sukuk Limited (Omantel)
- US$400 million issued under the US$1 billion programme established by Arada Sukuk 2 Limited (Arada)
- US$300 million issued by Sobha Sukuk Limited (Sobha)
- US$30 million issued by Keyper Sukuk I Limited (Keyper)
Awards
- Islamic Finance News (IFN) Awards 2023/2024: Sukuk Deal of the Year awarded in respect of The Islamic Corporation for the Development of the Private Sector (ICD)'s KZT2 billion Sukuk issued through ICD Eagle (Cayman)
- Bonds, Loans & Sukuk Middle East Awards 2024: Acquisition Finance Deal of the Year awarded to Avilease in respect of the US$3.6 billion acquisition of Standard Chartered's aircraft leasing business
- IFN Awards 2024/2025: Offshore Law Firm – Walkers (Dubai)
- Global Banking & Markets - Saudi Arabia 2025 Awards:
- Bond Deal of the Year - awarded to The Public Investment Fund of Saudi Arabia in respect of its US$5 billion Sukuk issued through GACI First Investment Company (Cayman)
- Debut FI Bond Deal of the Year – awarded to the Alinma Bank in respect of its US$1 billion debut Additional Tier 1 Sukuk issued through Alinma Bank Tier 1 Sukuk (Cayman)
- Islamic Capital Markets Deal of the Year – awarded to the Saudi Electricity Company in respect of its US$2.2 billion corporate Sukuk issued through Saudi Electricity Sukuk Programme Company (Cayman)
These highlights are a testament to Walkers' commitment to delivering exceptional results in the Sukuk and Debt Capital Market space for our clients and industry stakeholders.
Finance partner, Ciaran Bohnacker commented, "These awards reflect the strength and ability of our team to deliver on complex, high profile transactions. It's great to be recognised for our work, and we are very grateful for the opportunity to showcase the depth of our expertise."
Walkers provides fully integrated legal and fiduciary services to our international client base, effectively offering a “one-stop-shop” for our clients and a wide range of options for structuring financial services transactions. Supplemental to Cayman law advice, Walkers’ offering also includes incorporation services (assisting with forming Cayman Islands, ADGM and DIFC issuers as orphan, bankruptcy remote vehicles), as well as administrative, registered office, directorship, share trustee services, process agent and listing services.
