• Common Lenders’ lead Saudi law counsel to, inter alia, JBIC, conventional and Islamic lenders for Petro-Rabigh, in connection with a US$ 8.5 billion refinery and petrochemical project at Rabigh including advice on structuring/devising novel Shari’ah-compliant structures fitting within a larger conventional financing (awarded Project Finance Deal of the Year 2006 by Euromoney/IFLR)
• Advising multilateral lenders in connection with structuring, documentation and negotiating the (US$ 5 billion) Yansab (SABIC) petrochemicals in Saudi Arabia (awarded Petrochemicals Deal of the Year 2006 by Euromoney Magazine Middle East) featuring the largest ever Islamic financing (US$ 847 million) in any multi-sourced project financing globally
• Lead Saudi law counsel to the sponsors on the US$ 526 million polypropylene Al-Waha project in Saudi Arabia advising on structuring, negotiating and documenting the first Greenfield project to be wholly Shari’ah financed on a novel co-purchase arrangement structure and without any commercial bank debt (awarded Middle East Islamic Deal of the Year 2006 by the Project Finance Magazine andProject Finance of the Year by Islamic Finance News)
• Counsel to the arranger in connection with advice on structuring the first ever sukuk for SABIC approved by the Capital Market Authority in Saudi Arabia for an aggregate issue of SAR 3 billion (US$800 million), awarded 'Sukuk Deal of the Year' and 'Country Deal of the Year - Saudi Arabia 2006' by Islamic Finance News.
• Lead Counsel to Noor Islamic Bank, arranger and Islamic lender, in a US$ 115 million Shari’ah-compliant syndicated ijara facility including advice on the structuring, documentation and negotiation of the transaction documents.
• Advising a major petrochemical sponsor in connection with the first ever refinancing of several conventional finance loans into Islamic ijara financing arrangements in the Kingdom of Saudi Arabia
• Advising lenders on the US$ 1.5 billion reverse-murabaha (tawarruq) variant financing of an infrastructure project
• Lead Saudi law counsel to Saudi banks in advising on structuring, documenting and negotiating novel Islamic financing structures in Saudi Arabia, including sukuk-al-ijara and sukuk-al-mudaraba
• Lead Saudi law counsel to a leading Islamic leasing company in Saudi Arabia in connection with structuring sukuk-al-ijara
• Devising an innovative structure and document product structure for an Islamic ‘debt’ equivalent financing based on a musharaka/murabaha variant
• Counsel to a Saudi bank on a proposed SAR 7.5 billion sukuk issuance for an independent power plant project
• Advising a major Saudi corporate in connection with a US$ 500 million sukuk-al-ijara financing of the construction of a shopping centre
• Counsel to a major Saudi insurance company in relation to the issuance of SAR 500 million sukuk-al-wakala for a project
• Lead Saudi law counsel to multilaterals in connection with structuring, documenting and negotiating an integrated conventional and Islamic ijara financing of a petrochemicals complex
• Lead Saudi law counsel to a large petrochemical sponsor, in connection with the refinancing of several conventional finance loans into an Islamic ijara financing arrangement
• Advising a finance house on the Islamic ijara financing of equipment for a hospital
• Advising the lenders on the SAR 1.5 billion reverse-murabaha (tawarruq) of an infrastructure project
• Counsel to a major Saudi corporate in relation to a murabaha facility to finance the construction of a hotel
• Working on a US$ 500 million limited recourse financing of a petrochemical plant in Al Jubail, Saudi Arabia (financing involved application of commodity-backed murabaha financing techniques in the context of multicurrency loan comprising several different facilities)
• Representing a Saudi Arabian real estate developer in regards to development, construction, and operation of several new three-star and five-star hotels and an office block in Saudi Arabia, including private placement and finance under an Islamic structure
• Representing a major Saudi Arabian bank in respect of two real estate development projects in Saudi Arabia financed under an Islamic structure
• Advising leading Islamic banks on structuring, documenting and negotiating novel Islamic financing structures including for sukuk al ijaras and sukuk al mudarabas
• Counsel to the issuer for a SAR 250,000,000 Sukuk for a company backed by Real Estate, Machinery & Vehicles from inception to closing
• Lead Saudi law counsel to Saudi banks in advising on structuring, documenting and negotiating novel Islamic financing structures in Saudi Arabia, including sukuk-al-ijara and sukuk-al-mudaraba
• Lead Saudi law counsel to a leading Islamic leasing company in Saudi Arabia in connection with structuring sukuk-al-ijara
• Counsel to a major Saudi insurance company in relation to the issuance of SAR 500 million sukuk-al-wakala for a project
• Counsel to foreign investors in relation to structuring, developing and documenting a novel private real estate investment fund in Saudi Arabia
• Counsel to a GCC bank in relation to fund establishment in Saudi Arabia
• Counsel to international funders in relation to fund establishment and operation in Saudi Arabia
• Counsel to commercial banks in relation to provision of certain funds-related advisory and banking services in Saudi Arabia
• Advising Deutsche Gulf Finance, a Saudi based Islamic mortgage finance company, on a transaction with a leading Saudi entity involving the Shari'ah and legal structuring of securitization of leased assets, including mechanics of sale and legal protections and drafting and negotiation of relevant documentation, and liaison with and clearance from Shari'ah Board
• Advising Deutsche Gulf Finance, on Islamic finance transactional structures for innovative ijara, murabaha, mudaraba and musharaka variants, among other matters
• Advising Deutsche Gulf Finance, on a transaction with a portfolio seller of leased assets involving the Shari'ah and legal structuring of securitization of leased assets, including mechanics of sale and legal protections and drafting and negotiation of relevant documentation and liaison with and clearance from Shari’ah Board
• Advising a Saudi based mortgage finance company on Islamic finance matters related to mortgage structure and corporate organization
• Advising a leading Saudi general manufacturing entity on a cross-border transaction where a leading Qatari entity purchased a share in that entity and entered into a complex off-take and other collaborative documentation
• Advising a member of the Saudi Royal family in relation to a general manufacturing joint venture in the Kingdom of Saudi Arabia
• Advising the offtaker, the Water and Electricity Company "WEC" and its shareholders, Saline Water Conversion Corporation and Saudi Electricity Company in relation to the Shuqaiq IWPP
• Counsel to a major Saudi corporation in connection with the financing of two petrochemical plants
• Counsel to a Saudi petrochemical company in connection with the proposed development and financing of a US$10 billion petrochemical project
• Advising an ECA and other prospective lenders in connection with the proposed multi-billion dollar project financing of a petrochemicals plant
• Lead Saudi law counsel to a joint venture in relation to its tender for the cargo business of Saudi Arabian Airlines
• Advising one of the project sponsors in relation to the financing of a methanol plant
• Advising leading banks operating in Saudi Arabia on the financing of a butanediol project
• Advising leading banks operating in Saudi Arabia on the financing of a methanol project
• Advising lenders on a US$1.4 billion financing of an integrated acetyls complex
• Advising a major international defence contractor with regard to the drafting and implementation of its corporate ethics program
• Advising an aircraft lessor on the aviation laws of Saudi Arabia, with particular emphasis on the enforceability of security in the region
• Advising on the US$643 million financing of an extension to a power plant in Saudi Arabia
• Advising a major Saudi corporate in connection with a US$500 million sukuk-al-ijara financing of the construction of a shopping centre
• Advising major Saudi lenders regarding a non-recourse project financing of the Equestrian Club, a mixed-use development in Jeddah comprised of an exclusive social club, sports facilities, thalasso-balneo center, hotel, shopping mall, and marina
• Representing a consortium in bidding on Saudi Land bridge east-west rail project involving the construction of over 1,000 km of new-build rail on a 30-year BOT basis
• Representing a major U.S. energy corporation in respect of the oil refinery project in Yanbu, Saudi Arabia

Saudi Arabian Corporate, Commercial & Joint Venture (JV) Experience

Our lawyers are available to assist in each step of the process, offering practical and commercially responsive advice on issues such as:

• The appropriate structure for our clients to develop their business in Saudi Arabia (for example, by way of distribution agreement, partnership, joint venture or establishing a corporate presence in the region)
• Advising a multi-lateral lender on the privatization of the Hajj Terminal Project at King Abdulaziz International Airport
• Acting for a major Saudi joint stock company in relation to its proposed IPO in 2008, including the preparation of its placing memorandum and an extensive legal review of its business lines and commercial contracts
• The licenses, permissions and approvals required to operate within Saudi Arabia
• The appropriate corporate vehicles for the client's business requirements
• The requirements to recruit Saudi nationals and the immigration issues to be addressed in order to bring staff from outside of Saudi Arabia
• Raising Islamic Finance for corporate ventures
• Representation of Saudi steel company in expansion of steel mill facilities including negotiation of equipment design and supply contracts with major international manufacturer and negotiation of construction and installation contracts for new rolling mill, reheat furnace and related equipment.
• Representation of international consortia, energy companies (TOTAL), multi-laterals (JBIC), NCB in various joint ventures/shareholders agreements including in relation to award winning projects such as Rabigh
• Representing the interests of a member of the Royal Family in the establishment of a world-class general manufacturing production facility in Saudi Arabia including structuring, documenting and negotiating the JV agreement and project documents
• Representing a major Saudi corporate in a steel joint venture project including structuring, documenting and negotiating the joint venture agreement and ancillary documents
• Representing a major Saudi corporate in a steel joint venture project including structuring, documenting and negotiating the joint venture agreement and ancillary documents
• Representing a major Saudi corporate in structuring, documenting and negotiating project contracts, including an EPC contract with a European construction company
• Advising a major international telecommunications company in connection with its successful bid for a second fixed phone license in Saudi Arabia, including advising in relation to the incorporation of a Saudi subsidiary and the documentation detailing the terms of a joint venture with its Saudi partners
• Advising on a joint venture (drafting of joint venture and ancillary documentation) between a leading Kuwaiti logistics company and Saudi conglomerate in relation to a bid to operate the cargo operations of Saudi Arabian airlines upon its privatization in early 2008
• Advising leading Saudi corporates on the terms of a number of Memoranda of Understanding in relation to joint venture projects, such as the development of a polyethylene film plant
• Advising a Saudi corporate in relation to a proposed joint venture with a UAE established Architectural & Engineering consulting, for the development of consulting business in Saudi Arabia and the GCC
• Advising one of the project sponsors in relation to the joint venture agreements, corporate structuring and documentation and matters in relation to the financing of a methanol plant
• Advising a leading international telecom operator in the establishment of a public joint stock company in Saudi Arabia
• Acting as lead counsel in the incorporation and IPO of three major insurance firms in the Saudi Arabia
• Advising International Finance Corporation (IFC) on the privatisation of the Hajj Terminal Project at King Abdulaziz International Airport
• Advising a large U.S. corporation in drafting a Settlement Agreement in relation to performance tests on equipment supplied to large corporate in Saudi Arabia