|
| View award winners |
The bigger significance of the deal was that it broke new ground with export credit agencies. “The sukuk marks the world’s first sukuk financing supported by an ECGD [export credit guarantee department] and the largest-ever capital markets offering in the aviation space with an export credit agency guarantee,” says Qudeer Latif, head of the global Islamic finance practice at Clifford Chance. The ECGD in this case was the UK Export Finance agency, for whom it was its largest-ever guaranteed debt capital markets transaction.
The UK agency’s presence in an Islamic deal was in itself important and should be seen in the context of the UK’s aim to be a hub for Islamic finance.
