Ciaran Bohnacker
Partner
Dubai
The awards honour the most innovative and impactful transactions across the region’s sovereign, corporate, and financial sectors, following a rigorous selection process that evaluates deal size, structure, execution quality, and market impact.
Among the standout transactions was Mubadala’s landmark US$1 billion ten-year sukuk programme which earned the Sukuk Deal of the Year. The transaction represents the first USD denominated sukuk issuance by Mubadala - issued through its special purpose vehicle, MDGH Sukuk Limited, established in the Abu Dhabi Global Market. The Walkers team, led by Ciaran Bohnacker and Szymon Durlo, provided, and continues to provide, amongst other things, a variety of corporate, fiduciary and administrative services to MDGH Sukuk Limited.
Walkers was also recognised for its role in the Corporate Syndicated Loan Deal of the Year, awarded to the US$3.2 billion financing for GEMS Education. This complex transaction combined both conventional and Islamic term financing. Walkers advised Dubai Islamic Bank, the UAE’s largest Islamic bank, on several facilities extended to members of the GEMS Education group. The Walkers team was led by Ciaran Bohnacker and Johanna Hendry.
Private Credit Deal of the Year was awarded for its work on the US$30 million sukuk issued by UAE-based proptech company Keyper. The Shariah-compliant financing, secured from Franklin Templeton Investments (ME) Ltd, was complemented by US$4 million in pre-Series A equity funding, bringing Keyper’s total capital raised to over US$40 million. The proceeds were utilised to expand Keyper's Rent Now, Pay Later (RNPL) platform. Walkers again acted as Cayman Islands counsel, with Ciaran Bohnacker and Szymon Durlo advising.
Securitisation Finance Deal of the Year was awarded to the US$140 million asset-backed securitisation of Sharia-compliant funding facilities provided from a consortium of Goldman Sachs and Magellan Capital to small and medium sized entities originated via the Beehive peer to peer origination platform in the UAE. Walkers acted as Cayman counsel, led by Ciaran Bohnacker and Gareth Lond.
Reflecting on the firm’s success, Ciaran Bohnacker, Partner at Walkers, commented: “It’s incredibly rewarding to see our work recognised in transactions that are not only commercially significant but also transformative for the region. These awards highlight the growing sophistication of Middle East markets and our role in supporting that growth.”
