Delivering award-winning deals in Saudi Arabia: Walkers recognised at the GBM Awards 2026

Recognised on four winning transactions at the Global Banking & Markets (GBM): Saudi Arabia Awards 2026.

We have been recognised for our involvement on four winning transactions at the Global Banking & Markets (GBM): Saudi Arabia Awards 2026, which celebrate the most innovative and ground-breaking transactions involving sovereign, corporate and financial institution issuers in Saudi Arabia.

The recognition highlights our leading position as offshore counsel on complex debt capital markets and Islamic finance transactions in the Kingdom of Saudi Arabia and across the Middle East.

The award-winning transactions on which we acted as Cayman Islands counsel include:

• Groundbreaking Deal of the Year: The Public Investment Fund (PIF), acting through GACI First Investment Company, on its inaugural green bond issuance comprising (i) €800m three-year tranche and (ii) €850m seven-year tranche of senior unsecured green bonds. We advised alongside the Latham & Watkins team.
• Islamic Capital Markets Deal of the Year: The Kingdom of Saudi Arabia, acting through KSA Ijarah Sukuk Limited, on the issuance of a US$5.5bn dual-tranche AAOIFI-compliant sukuk. We advised alongside the A&O Shearman team.
• Quasi-Sovereign/GRE Bond Deal of the Year: Saudi Energy Company, acting through Saudi Electricity Sukuk Programme Company, on the issuance of a US$2.4bn triple-tranche sukuk. We advised alongside the Latham & Watkins team.
• Corporate Sukuk Deal of the Year: Almarai, acting through Almarai Sukuk Ltd., on the issuance of US$500m trust certificates. We advised alongside the White & Case team.

Our team was led by partner Ciaran Bohnacker and senior counsel Szymon Durlo, who acted as Cayman Islands legal counsel on each of these transactions.

The Saudi Energy Company and Almarai transactions also benefited from the support of the Walkers Professional Services (WPS) team, led by senior vice president Paul McGinness. The WPS team assisted on the administrative and fiduciary aspects of the structures. The Almarai transaction further benefited from the specialist support from our Irish-based Listing Services team, led by Therese Redmond.

Commenting on the recognition, Ciaran Bohnacker said: 'The calibre of transactions recognised at this year's awards demonstrates the strength and momentum of the Saudi market. We are proud to have supported our clients on these complex and strategically significant matters and to have contributed to their success.'