The circles

Sectors

Practice circle

Capital Markets & Finance

Sukuk and debt instruments, offerings, banking and Islamic finance, and restructuring.

Equity offerings, sukuk and debt issuance, offering documentation and prospectuses, transaction-related approvals and admission requirements, banking and Islamic finance, and acquisition and project finance. It also covers debt restructuring and procedures under the Bankruptcy Law.

Whom we act for

Issuers, arrangers and borrowers, banks, delegates, and foreign law firms that need the Saudi opinion, and creditors and debtors in a restructuring.

What leaves our desk

Structuring memorandum, issue or facility documents, legal opinion, closing list.

Contractual forms

The local counsel opinion, The enforcement review.

How we work on the file

  1. Structure

    Choice of instrument — equity, sukuk or facilities — and its Shariah-compliant structure where required.

  2. Documents

    The prospectus, programme documents, or facility and security agreements.

  3. Verification and approvals

    Legal review and verification, and the regulator’s and exchange’s approvals.

  4. Closing

    Closing opinions, the local legal opinion, and perfection of security.

Services

Equity Capital Markets

Offering documents, legal review, verification and closing.

Debt Capital Markets & Sukuk

Issuance programmes and documentation, and closing opinions.

Banking & Islamic Finance

Facilities and security, corporate and acquisition finance, and refinancing.

Project Finance

Finance documents, conditions to drawdown, and security.

Local Counsel Legal Opinion

A Saudi-law opinion within an international transaction, stating its addressees, reliance, jurisdiction and limits.

Restructuring & Insolvency

Procedures under the Bankruptcy Law — protective settlement, financial reorganisation and liquidation — and negotiations with creditors and debt rescheduling.

Sectors served with this circle

  • Financial institutions
  • Energy and infrastructure
  • Real estate
  • Media and entertainment

Dates for this circle

  1. US Federal Reserve rate decision

    Washington

    The riyal is pegged to the dollar; the Saudi Central Bank usually moves with the Fed, and the cost of financing follows.

  2. US Federal Reserve rate decision and projections

    Washington

    The last decision of the year, with the Fed’s projections that price the next round of borrowing.

Relevant authorities

  • Capital Market Authority
  • Saudi Exchange
  • Saudi Central Bank
  • Bankruptcy Commission

Key contact

Omar Alhawas

Founding Partner, Lawyer and Notary

contact@selden.law

+966 50 118 0228

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