Senior Debt Capital Markets Lawyer

The role

The Group

We were the first firm to commit to building a full capital markets execution capability in the Middle East. We are active in structuring and executing a wide range of high-value conventional and Islamic-compliant capital market transactions for clients across a broad spectrum of jurisdictions including the GCC, the wider Middle East region, Asia and Europe.

We work on a broad variety of matters under both English and UAE law including:

• medium term note programmes;
• eurobonds;
• sukuk transactions;
• regulatory capital issues;
• liability management transactions;
• convertible and exchangeable bonds; and
• structured financings.

Our clients include issuers, dealers, arrangers, underwriters, originators and investors. We act for the leading global and regional financial institutions and corporates located not only in the Middle East, but also in Europe, the Americas and Asia. We work with global clients such as Barclays, Citi, HSBC, JP Morgan, Standard Chartered Bank and leading regional financial institutions and corporates such as Dubai World, Majid Al Futtaim and Emirates Airlines.

Key Attractions

“Clifford Chance maintains a pre-eminent practice in the UAE, with particularly strong capabilities in debt capital markets. Its lawyers have deep experience in sukuk and sovereign bonds, demonstrating particular strength in Rule 144A offerings. The firm also has considerable experience assisting with securities regulatory issues and hybrid transactions, in addition to securitisation and Islamic derivatives. Clifford Chance acts for a diverse array of clients both locally and throughout the GCC.

Chambers Global 2024: Middle East: Capital Markets – Tier 1

• We are one of the world's leading global capital markets practices, with the Middle East's most experienced capital markets team.
• We were IFLR Middle East Law Firm of the Year 2007, 2009, 2010, 2011, 2012, 2014, 2016, 2018, 2022 and 2023.
• Debt Deal of the Year - Arab Republic of Egypt sovereign sukuk – IFLR Middle East 2023.
• Debt Team of the Year - IFLR Middle East 2023.
• Our work on the most complex and innovative deals has helped further cement our reputation and has established our team as a market leader. You will work on leading deals for top tier clients across the GCC in a dynamic and fast-growing market. The range, calibre and international scope of our deal flow is unrivalled. For instance, in the recent time we have advised on the following key transactions:
  • advising the Federal Government of the United Arab Emirates, acting through the Ministry of Finance, as issuer on the establishment of a UAE dirham T-Sukuk Programme and the initial actions thereunder. The establishment of the T-Sukuk Programme follows the establishment of the Federal Government's UAE dirham Treasury Bonds Programme in April 2022, on which Clifford Chance also advised the Federal Government. The T-Sukuk is also the first ever sukuk to have secured a fatwa from the Higher Shari'a Authority of the UAE Central Bank, which cooperates with the relevant authorities to standardise and unify the practices of Islamic financial institutions to be compatible with internationally recognised Shari'a standards and best practices.
  • advising DP World Limited on the issuance of U.S.$1.5 billion trust certificates due 2033 under its U.S.$5 billion trust certificate issuance programme. The trust certificates were issued on the basis of a wakala-murabaha structure and are dual listed on the London Stock Exchange's regulated market and on Nasdaq Dubai. The issuance is DP World's debut green sukuk issuance with proceeds being earmarked for eligible green projects in line with its Sustainable Finance Framework.
  • advising the Joint Lead Managers on the issuance of a US$500 million inaugural green sukuk by Aldar Investment Properties (AIP), the largest real estate management company in Abu Dhabi and subsidiary of Aldar Properties PJSC (Aldar). The issuance forms part of a US$2 billion financing programme by AIP to support its growth agenda and sustainability commitments, in line with the goals of the Paris Agreement, the UAE Net Zero by 2050 Strategic Initiative and Aldar's plan to be a net zero carbon business by 2050.
  • advising Abu Dhabi Future Energy Company PJSC – Masdar as legal counsel to the Arrangers and Dealers (and Joint Lead Managers) on the issuance of US$750,000,000 Notes due 2033 by Abu Dhabi Future Energy Company PJSC – Masdar under its US$3,000,000,000 Euro Medium Term Note Programme, and an amount equivalent to the net proceeds of the Notes will be applied by the issuer in accordance with its Green Finance Framework.
  • advising the investment banks (as to English law, ADGM law and UAE law)on the establishment of Mamoura Diversified Global Holding PJSC's English law-governed senior unsecured trust certificate issuance programme and the inaugural Regulation S issuance of U.S.$1 billion 10-year senior unsecured sukuk under the Programme. The Sukuk are listed on the main market of the London Stock Exchange plc. The Sukuk is based on a unique Wakala structure involving (i) listed shares held by Mubadala as the eligible assets and (ii) a complex Shari'a-compliant hedging arrangement devised for such an asset class. Mubadala received the UAE Higher Shari'a Authority's sign-off on the Sukuk structure – Clifford Chance worked closely with the group of investment banks and advised them extensively on the Programme/structure set-up.
  • advising Saudi Electricity Company on the dual-issuance of its US$800 million senior unsecured trust certificates due 2029 and US$1.4 billion senior unsecured trust certificates due 2034 (each, a "Series", and together the "Sukuk") by Saudi Electricity Sukuk Programme Company as trustee under its US$6 billion Trust Certificate Issuance Programme. The Sukuk were issued in accordance with Regulation S of the U.S. Securities Act of 1933 and are listed on the main market of the London Stock Exchange plc. The issuance was one of the largest in the MENA region in over a year, received demand from international investors in Asia, Europe and Middle East, attracted orders exceeding US$11 billion and was more than five times oversubscribed.
• We are committed to working with clients as integrated team members - which means that, from day one, our lawyers have hands-on client contact.
• We are proud of our reputation for being a friendly, supportive, meritocratic and diverse group and reinforce this with regular social events - both ad hoc and organised.
• We run a sophisticated global training programme including local monthly courses run by The Clifford Chance Academy, to ensure that our lawyers are kept at the forefront of any technical legal developments.
• Our remuneration package is one of the most attractive in the market.

Key Responsibilities

• Our associates are given the chance to handle a tremendous variety of work, and together with our Resource Manager, our partners actively work towards ensuring individual lawyers receive their preferred mix of work.
• You will be given responsibility for working closely with clients and other lawyers. This means that you will develop outstanding transaction management and organisational skills as well as developing superb technical abilities and client facing experience.

Requirements

Your experience

Skills & Experience

• We are currently seeking an outstanding senior capital markets lawyer who has gained extensive DCM experience in a top tier firm.
• You should have a proven track-record of leading on complex DCM transactions.
• Regional experience is a benefit but not a prerequisite.
• In all cases, candidates should have first class legal ability coupled with a practical commercial approach. Candidates should also demonstrate excellent drafting, analytical and communication skills; and enjoy being part of a friendly outgoing team. You must also have exceptional results throughout your academic history.