The Bahrain office of Baker & McKenzie has acted for the Saudi Binladin Group on a SAR700m ($187m) Sukuk Al-Murabaha issued by SBG Sukuk Limited. The short term Sukuk was privately placed with key Saudi investors. The Baker & McKenzie team was directed by Ian Siddell, Partner and Head of the Gulf Banking & Finance practice, who said: “Having assisted the Saudi Binladin Group on their inaugural sukuk issuance in 2008, we are pleased to have, once again, advised the Saudi Binladin Group on this innovative short term sukuk which represents a first in many respects for the Saudi market. The strong response the issuance received  from the Saudi market highlights the strength of the Saudi Binladin Group.”