An Islamic finance deal in which the firm’s Guernsey office acted, has won an award in the Islamic Finance Deals of the Year 2013 as chosen by the influential publication, Islamic Finance News.
It was judged the top deal in the European category and one of the Islamic finance Deals of the Year 2013.
The legal team in Guernsey led by Mark Helyar was instrumental in devising the structure, the Sukuk Wakalah Programme, on behalf of the European insurance Group FWU. The deal was US$ 100 million in size and the first tranche of $20 million closed in October. Islamic Finance News, described as the world’s leading Islamic Finance News provider, judged this deal to have stood out as innovative amongst the deals undertaken in Europe in 2013.
Bedell was Guernsey counsel to the issue and the issuer and worked alongside the European Islamic Investment Bank, Rasmala Group and legal firm Morgan, Lewis and Bockius.
Its further recognition for the Guernsey office which was awarded ‘Offshore Law Firm of the Year’ in the UK Captive Service Awards 2013 and for the firm as a whole, which amongst recent accolades won the ‘Offshore Law Firm of the Year’ category in the prestigious new Legal 500 UK Awards 2013.