Raheel Butt
- +966 11 416 7380 (Riyadh)
- +971 4 381 6339 (Dubai)
- +966 55 730 2694 (Riyadh | mobile)
Biography
Overview
Raheel is a local partner in our Financial Institutions Advisory team in our Dubai office.
Raheel has over 16 years' experience and has spent over a decade on ground in Saudi Arabia. He focuses on matters related to the financial service sector and regularly advises banks, asset managers, fund managers, securities brokers and custodians on a range of regulatory, advisory and transactional matters.
Raheel has an in-depth understanding of Saudi Arabian financial services laws, regulations and practices. He has experience of working with fund managers and asset managers on structuring investments, funds and capital raisings involving equity and hybrid capital structures for investments across a range of alternative assets. He uses innovative Sharia compliant solutions to create viable investment structures.
He also regularly advises lead managers and underwriters on Saudi public equity offerings and securities brokerage firms on regulatory and transactional matters related to agency appointments, brokerage and custody of securities. Raheel works with financial services clients in the development and launch of their products and services and in the implementation of regulatory change projects. He is frequently called upon to structure and advise on security matters on financing transactions.
Experience
Representative experience includes:
Regulations Advisory – Financial Institutions
- Representation of SNB Capital on executing broker, independent custodian and wholesale broker obligations in connection with the Rules for Qualified Foreign Financial Institutions Investment in Listed Securities (QFI Regulations).*
- Representation of SNB Capital in drafting and negotiation of master wholesale QFI brokerage agreements with leading regional and global financial institutions.*
- Representation of SNB Capital on AML/KYC issues for placing reliance on an international third-party financial institution for meeting obligations under the Saudi AML Law.*
- Advised on Article 14 of Investment Funds Regulations; structured an Islamic repurchase arrangement and drafted agreements to create liquidity from illiquid securities for meeting liquidity requirements.*
- Representation of SNB Capital on sell-side research sale agreement with European financial institutions following the promulgation of the MiFID II directives.*
- Representation of SNB Capital on obligations as a non-clearing member under the Securities Central Counterparties Regulations; and on a clearing settlement agency agreement with a securities general clearing member.*
- Representation of SNB Capital on obligations of a broker under the Securities Borrowing and Lending Regulations.*
- Representation of SNB Capital on a block sale agency agreement in connection with the Negotiated Transactions Guidelines for acting as an agent for the buyer of a block of listed securities.*
- Representation of banking interest group on the Central Bank of Bahrain's legislative committee for shaping real estate development escrow laws.*
Commercial Advisory – Financial Institutions
- Representation of SNB Capital on investment advisory, investment management and international custody agreements with leading global financial institutions.*
- Representation of SNB Capital on sell-side data agreements with Moody's and FTSE.*
- Representation of SNB Capital in the implementation of VAT through updating standard documentation, and agreements with important clients and vendors.*
Transactional – Banking, Finance & Restructuring
- Representation of Al Salam Bank on a novel Mudaraba financing to a family office for the fit-out and completion of Four Seasons Bahrain Bay. US$100 Million.*
- Representation of Saudi Binladin Group on its debt portfolio and corporate restructuring and balance sheet recapitalization.*
- Representation of SNB Capital on the structuring and documentation of private credit transactions in the UK and the UAE.*
- Representation of a Middle Eastern bank on an Ijara financing for a large residential housing project in Bahrain.*
- Representation of an agent bank on the restructuring of a syndicate Ijara facility for a landmark commercial tower in Bahrain.*
- Representation of an Islamic bank on a bilateral construction facility for a mall in Bahrain.*
- Representation of a syndicate of banks on the PKR 7 billion construction financing of Centaurus Islamabad, Pakistan.*
Transactional – Investment Funds
- Representation of a fund manager on the establishment of a private offshore SPC (segregated portfolio company) and advised on structure and securitization documentation for Islamic investments in crop and livestock businesses through onshore SPVs in Australia.*
- Representation of Al Salam Bank Singapore on establishing, launching and ongoing maintenance of the US$100million ASB Global REIT using a Cayman structure.*
- Representation of SNB Capital on an investment in profit participation certificates for investing in agriculture businesses in Africa through an offshore fund structure.*
- Representation of a high net-worth family on the establishment of funds and nominee structures for acquisitions and holding investments.*
Transactional – Capital Markets
- Representation of SNB Capital on dealer and arranger agreements for the issuance of international bonds; worked alongside leading global financial institutions.*
- Representation of SNB Capital in its capacity as global joint coordinator, book runner and lead underwriter on the Saudi Aramco IPO.*
- Representation of SNB Capital on dealer and arranger, book runner agreements on tier 1 bond issuance.*
- Representation of SNB Capital on dealer and arranger, book runner and underwriting agreements for multiple tranches of a financial institution's international bond program.*
- Representation of SNB Capital on underwriting agreements, lead and joint lead manager, book running and financial advisory agreements on several Saudi IPOs, rights issues, bonds and Sukuk issued in Saudi Arabia with a foreign offering.*
- Representation of Extra on its IPO in Saudi Arabia.*
- Representation of Etihad Atheeb Telecom on its rights issue in Saudi Arabia.*
*Experienced gained prior to joining White & Case.
