Basil Al-Jafari helps corporates, governments, and financial institutions navigate the full range of debt and equity capital markets products, including conventional bond and Sukuk issuances, debt restructurings, initial public offerings, rights issues, equity investments, and other general corporate finance matters. His practice covers the Middle East, Europe, Africa, Asia, and Latin America.

He has acted for underwriters, issuers, and trustees on all types of debt issuances, including investment grade, crossover and high-yield offerings, MTN and Sukuk programs, and a broad range of liability management matters.

Prior to re-joining the Dubai office, Basil was based in the firm’s Singapore office, where his practice focused on capital markets transactions across Asia.

Basil’s experience includes advising:

Equity Capital Markets

  • The bookrunners on the US$11.2 billion secondary public offering of shares of Saudi Aramco
  • The underwriters in Investcorp Capital's US$451 million initial public offering 
  • The underwriters in TECOM Group’s AED 1.7 billion initial public offering 
  • The bookrunners in the SAR3.2 billion secondary public offering of shares in Saudi Telecom Company by the Public Investment Fund
  • The underwriters in Saudi Aramco’s US$29.4 billion initial public offering (the world’s largest ever initial public offering)
  • Arabian Internet and Communications Services Company (solutions by stc) in its SAR3.6 billion initial public offering
  • The managers in the SAR750 million advanced bookbuild sale of shares in The Saudi British Bank (SABB)
  • The underwriters in HDFC Asset Management Company’s US$400 million initial public offering
  • Techcombank in its US$922 million initial equity offering
  • Vincom Retail in its US$740 million initial equity offering
  • The underwriters in Future Supply Chain’s US$100 million initial public offering
  • The underwriters in Chandra Asri Petrochemical’s US$378 million rights issue
  • The underwriters in India Grid Trust’s US$350 million initial public offering of units
  • The Government of Pakistan in its US$1 billion offering and sale of its shareholding in Habib Bank Limited
  • Abu Dhabi Islamic Bank in its US$137 million rights offering
  • Sembcorp Salalah Power and Water Company in its US$138 million initial public offering

Debt Capital Markets (Conventional)

  • The dealers in the establishment of a euro medium term note program by the Arab Bank for Economic Development in Africa (BADEA)
  • Vår Energi in the issuance of €750 million subordinated fixed rate reset securities due 2083
  • The joint bookrunners in the debut offering of US$350 million senior secured guaranteed green notes due 2028
  • The dealer managers in the exchange offer and consent solicitation by Vivion Investments and issuance of senior secured guaranteed notes due 2028 and 2029 
  • Vår Energi in the establishment of a €3 billion euro medium term note program and inaugural issuance of €600 million notes thereunder
  • A GCC sovereign wealth fund in the establishment of its euro medium term note program and inaugural issuance of US$3 billion “green” bonds thereunder
  • Axian Telecom in its offering of US$420 million senior notes due 2027
  • The dealers in the establishment and subsequent update of a global medium term note program by the Federal Government of the United Arab Emirates, acting through the Ministry of Finance, and issuances of US$4 billion notes (2021), US$3 billion notes (2022), and US$1.5 billion notes (2023) thereunder
  • The dealers in various updates of a US$5 billion euro medium term note program by Annington Funding plc, and issuances thereunder
  • The dealers in the establishment of a euro medium term note program by Abu Dhabi Ports Company and inaugural issuance of US$1 billion notes thereunder
  • The initial purchasers in Liquid Telecom’s US$620 million senior secured notes offering
  • The dealers in the establishment and subsequent update of a global medium term note program by Saudi Aramco and issuances of US$12 billion notes (2019) and US$8 billion notes (2020) thereunder
  • Corporación Andina de Fomento (CAF) in various updates of its US$30 billion medium term note program and issuances thereunder
  • The joint lead managers in SABIC’s US$2 billion notes offering (2018) and US$1 billion notes offering (2020)
  • The Kingdom of Saudi Arabia in the establishment and subsequent update of its global medium term note program and inaugural issuance of US$17.5 billion notes thereunder
  • The Government of Dubai in various updates of its US$5 billion euro medium term note program and issuances thereunder
  • Etisalat in various updates of its US$10 billion global medium term note program and issuances thereunder

Debt Capital Markets (Sukuk)

  • The dealers in connection with the updates of Saudi Aramco's GMTN and sukuk programs and the managers in connection with the issuance of (1) US$6 billion notes under the GMTN program and (2) US$3 billion certificates under the Sukuk program (2024)
  • The Government of Dubai in its establishment of a trust certificate issuance program
  • Etisalat Group in its establishment of a US$3 billion trust certificate issuance program
  • Dar Al-Arkan in various updates of its US$2.5 billion trust certificate issuance program and issuances thereunder
  • Emirates REIT in its consent solicitation and exchange of existing trust certificates due 2022 for new secured trust certificates due 2024
  • The dealers in the establishment of a trust certificate issuance program by Saudi Aramco and issuance of US$6 billion certificates thereunder (the largest ever corporate Sukuk issuance)
  • N ogaholding in the establishment and subsequent update of a US$3 billion trust certificate issuance program and issuances thereunder
  • The joint lead managers in Arab National Bank’s US$750 million Tier 2 Sukuk offering
  • The joint lead managers in Saudi Electricity Company’s US$2 billion Sukuk offering (2018) and US$1.5 billion “green” Sukuk offering (2020)
  • The Kingdom of Saudi Arabia in the establishment of its trust certificate issuance program and inaugural issuance of US$9 billion certificates thereunder (the largest ever Sukuk issuance)
  • Dana Gas in its tender offer and consent solicitation and issuance of new US$530 million Sukuk and subsequent refinancing
  • The Government of Dubai in various updates of its US$6 billion trust certificate issuance program and issuances thereunder

Bar Qualification

  • England and Wales (Solicitor)

Education

  • LPC, BPP Law School, London, 2008
  • BA/MA, Oxford University, 2007
General Recognition Thumbnail
July 15, 2020 Recognition

Rising Star – Capital Markets: Basil Al-Jafari

Basil Al-Jafari has advised on several multibillion-dollar transactions in the Middle East, including representing the underwriters for Saudi Aramco's historic $29.4 billion initial public offering, earning him a spot among the capital markets law practitioners under age 40 honored as Law360 Rising Stars.