Capital Markets
Capital Markets Law Firm in Saudi Arabia
Guidance to Complex Transactions With Capital Markets and Sukuk Legal Advisory
The Capital Market team at Trabulsi & Co has the expertise, experience, and insight to help you achieve your goals in the dynamic and evolving Saudi Arabian capital market. The market is the largest in the region and attracts global attention from companies and investors.
Our debt capital markets lawyers offer comprehensive services in various areas of capital market transactions, such as public M&A, private sale transaction, rights issue, capital decrease and increase, debt conversion, IPOs, investment funds, fintech, complex corporate governance and disclosure issues and others. Our capital markets law firm will help you capitalize on Saudi Arabia’s growing opportunities in debt and equity capital markets.
With our deep understanding of the required rules and the operational aspect of the capital market, we can guide our clients toward a successful transaction.
Legal Services in Saudi Arabia’s Capital Markets
We combine local insight with international expertise, whether you need Sukuk issuances or capital market advisory. Trabulsi & Co provides strategic, Sharia-compliant legal support. We cover every facet of capital markets law, from IPO and mergers and acquisitions in Saudi Arabia to disclosure matters.
Our capital markets law firm can provide comprehensive services in the following:
- Public M&A
- Private sale transactions
- Rights issues
- Capital decreases & increases
- Debt conversion
- IPOs (Initial Public Offerings)
- Investment funds
- Fintech-related transactions
- Complex corporate governance issues
- Disclosure matters
Expert Sukuk Legal Advisory and Capital Market Services Tailored to Your Needs
Our team delivers precise, compliant, and efficient legal solutions from start to finish. Share key details about your capital market needs and our team will respond with next steps. Need immediate Sukuk legal advisory? Book a free consultation today and get direct guidance.
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FAQs
How do Sukuk differ from conventional bonds under Saudi law?
Sukuk differ from conventional bonds under Saudi law in that they are Sharia-compliant and asset-based. They represent ownership in an underlying asset, project, or investment activity, rather than a debt obligation like conventional bonds. Investors in Sukuk earn returns generated from the asset’s performance, not interest payments (riba), which are prohibited under Islamic law. Our experienced attorneys can provide Sukuk advisory and Saudi bonds issuance counsel to help you make an informed investment.
How long does CMA approval take for a bond issuance?
The length of time for CMA approval for a bond issuance varies, and depends on the complexity of the issuance and the issuer’s circumstances. The Rules on the Offer of Securities and Continuing Obligations allow the CMA to defer decisions “for such period as may be reasonably necessary.” Recent reform, however, can fast-track public-offering applications for Sukuk and bond issuances that carry a credit rating from a CMA-licensed credit rating agency. Our CMA compliance legal advisors can take you through recent updates and guide you through your application.
Are foreign issuers allowed to offer Sukuk in Saudi Arabia?
Yes, foreign issuers are allowed to offer Sukuk in Saudi Arabia, as long as they meet CMA regulatory requirements. They would have to obtain CMA approval and ensure the Sukuk structure complies with Sharia and disclosure standards. A local advisor would also have to be appointed. Trabulsi & Co. can work with foreign issuers and provide Sukuk legal advisory services.
How is an EMTN programme established for a GCC-based issuer?
A Euro Medium Term Note (EMTN) programme can be established for a GCC-based issuer base prospectus that outlines the overall framework for future issuances. The issuer has to register the EMTN programme with the relevant regulatory authority. In Saudi Arabia, it's with the CMA. Once approved, individual tranches can be issued quickly under the same umbrella documentation, allowing for flexibility and faster access to capital markets. Our capital markets law firm can provide assistance with the establishment of an EMTN programme.
What are the documentation requirements for dual-listed bonds on Tadawul and LSE?
The documentation requirements for dual-listed bonds on Tadawul and LSE are extensive and can be complex. You need to meet the requirements of both markets. In general, you’ll need a prospectus that’s compliant with the Saudi Capital Market Authority (CMA) and the UK's Financial Conduct Authority (FCA). At Trabulsi & Co., we have the expertise and experience to guide you through documentation requirements for dual-listed bonds.