Maples Group Advises Drake & Scull International PJSC on Landmark Sukuk SPV Issuance

The Maples Group is pleased to have advised Drake & Scull International PJSC ("DSI") on its recent Sukuk issuing Special Purpose Vehicle ("SPV"). This pivotal financial maneuver is part of DSI's comprehensive restructuring plan and capital increase initiative, which began its subscription process on 25 April 2024¹. 

Drake & Scull International PJSC is a global industry leader delivering state-of-the-art projects and solutions across its high-performance sectors including electromechanical, integrated design, engineering, and construction, for water, power and oil and gas sectors. 

A multi-disciplinary team of lawyers and professionals based in the Maples Group's Dubai office advised Drake & Scull International PJSC on the Cayman Islands legal aspects of the transaction and was led by Joint Managing Partner, Manuela Belmontes, with assistance from Of Counsel, Gurminder Sanghera, and Associate, Barbara Kramarz. The Group's Fiduciary Services team led by Norbert Neijzen, Regional Head of Fiduciary and John Irwin, Vice President, provided share trustee, director, and corporate administration services.

Commenting on the transaction, Manuela said, "We are delighted to have had the opportunity to support DSI on this significant transaction, not only from a Cayman Islands legal perspective but also from a fiduciary services angle.  This exemplifies the benefits of our comprehensive services and solutions that the Maples Group offers to clients and solidifies our reputation as a trusted adviser in the field of Islamic finance."