- Advises on debt capital markets and securities issuances, structured finance and other transactional matters.
- Widely recognized as a leading lawyer within the realm of Islamic finance.
- Has developed a reputation for advising on “first of its kind” transactions.
Rizwan Kanji’s practice focuses on debt capital markets, finance and securitizations using both conventional and Islamic finance structures.
Debt Capital Markets and Securities
- Represented EmiratesNBD and Maisarah Islamic Banking as joint lead managers in connection with a tender and exchange offer for OMR50 million trust certificates due 2018, listed on the Muscat Stock Exchange and issued on behalf of Tilal Development Company, a leading Omani real estate developer and mall operator (Tilal) (existing sukuk). The transaction also involved the issuance of $137 million 6.50 percent trust certificates due 2023 on behalf of Tilal (new sukuk), listed on the unregulated market of Euronext Dublin. This transaction is the first exchange and tender offer out of Oman, and was selected as “Deal of the Year – Oman” and received honorable mentions for “Deal of the Year” and “Restructuring Deal of the Year” by Islamic Finance News.*
- Advised The Bank of New York Mellon, London Branch in connection with the issuance of 6.50 percent fixed rate senior partially guaranteed by the World Bank, through the International Bank for Reconstruction and Development, notes due 2028, issued by the Republic of Seychelles. The issuance is the world’s first ever “blue bond,” the proceeds of which will be used to fund grants for fisheries management and as loans to encourage investment in sustainable fishing.*
- Counseled EmiratesNBD, Rand Merchant Bank and MUFG Securities EMEA plc as joint lead managers on the debut US$150 million sukuk issuance by the Africa Finance Corporation, a multilateral development bank that finances infrastructure projects in its 14 member countries. This transaction is the first sukuk issuance by an African supranational entity and was the first dollar sukuk of 2017 globally.*
- Advised Kuveyt Türk Katilim Bankasi A.S on its debut Subordinated Tier 2, Basel III-compliant US$350 Resettable Subordinated Trust Certificates due 2026 listed on the Irish Stock Exchange. The joint lead managers were Abu Dhabi Islamic Bank PJSC, Dubai Islamic Bank, Emirates NBD Capital Limited, HSBC Bank plc, KAMCO Investment Company, KFH Capital, Noor Bank and QInvest.*
- Advised the Islamic Development Bank on the establishment of its US$25 billion Trust Certificate Programme, which was triple-listed on the London Stock Exchange, Nasdaq-Dubai and Bursa Malaysia. The dealers were CIMB, HSBC, National Bank of Abu Dhabi, Natixis and Standard Chartered Bank. To date, this is the largest sukuk program established in the world.*