The following Banking & Finance practice note Produced in partnership with Dentons LLP provides comprehensive and up to date legal information covering:
This Practice Note provides an overview of the key considerations that an Obligor should take into account in selecting an appropriate structure for the issuance of Sukuk, the main documentation relating to the key structures and the key terms that would be incorporated into such documentation. This Practice Note also sets out the drivers behind the dominance of the Sukuk market in recent years and the legislative developments that have contributed to such growth in the market. For further information on Sukuk transactions and the background to the transaction structures set out below, see Practice Note: The structure and elements of a Sukuk transaction.
Sukuk instruments are instruments that enable holders to take direct ownership of an underlying asset or pool of assets and not have to pay interest. However, similar to conventional bonds, Sukuk transactions may take a number of forms including:
stand-alone issuances/programmes—Sukuk transactions may be issued on a stand-alone basis or, from time to time, as drawdowns under Sukuk issuance programmes known as Trust Certificate programmes
hybrid Sukuk—Sukuk may be issued in the form of hybrid transactions constituting regulatory capital, including Tier 1 and Tier 2 transactions, or corporate hybrid offerings, and
asset-backed Sukuk—Sukuk transactions may also be secured on any portfolio of assets capable of producing a measurable revenue stream, such as real estate-backed securities secured on a portfolio
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note considers the meaning and use of conditions precedent in commercial arrangements. It also considers typical conditions precedent and drafting issues.What are conditions precedent?A condition precedent in a commercial contract details an event which must take place before:•a
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
Issue estoppel is a sub-species of the res judicata doctrine (see Practice Note: The doctrine of res judicata). In addition to the general key requirements for establishing a res judicata (see Practice Note: Key requirements to establish a res judicata), this Practice Note considers the specific
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.