Banking and Financial Services

Banking & Financial Services  

Afridi & Angell’s Banking and Finance practice is recognised as one of the strongest and most experienced in the region.

We regularly advise on project finance transactions, structured finance, capital markets, investment products, acquisition finance, Islamic financing, asset finance and structuring, trade, consumer and treasury products.  Our clients include domestic and international banks, financial institutions, borrowers and investors.

Partner Profiles

Representative Matters

CONVENTIONAL FINANCE

  • Advised Xstrata Finance (Dubai) Limited regarding new facilities agreement for the XstrataGroup (refinancing the two existing facilities and consolidating them into a single US$5-6 billion facility for the Xstrata Group).
  • Acted as local counsel on the Salik Monetization scheme.  Value US$800 million.  This transaction was awarded the ‘Structured Finance Deal of the Year, 2011’ by Islamic Finance News and also received an ‘Honourable Mention’ in Asian-MENA Counsel’s Winning Law Firms of the Year, 2011.
  • Advised Reservoir Group Limited regarding a US$57.5 million incremental finance project.
  • Advised a bank in respect of syndicated conventional and Sharia compliant term loan facilities to finance the construction and expansion of three hospitals in the Emirate of Abu Dhabi.
  • Advised a bank in respect of a syndicated term loan facility to finance a new petroleum terminal facility in the Emirate of Fujairah.
  • Advised a bank regarding a syndicated term loan facility for construction of a shopping mall.

ISLAMIC FINANCE

  • Acted for one of the lenders in the US$520 million Thuraya Satellite financing.
  • Advising DIB Capital in connection with a US$50 million Shariah compliant property fund.
  • Advised Nakheel Co. LLC with regard to a US$350 million syndicated Ijara facility.
  • Advised Sharjah Electricty and Water Authority with regard to a US$350 million syndicated Ijara facility.
  • Represented Dubai Islamic Bank with regard to an AED70 million diminishing masharkah.

DUBAI INTERNATIONAL FINANCIAL CENTRE BANKING

  • Advice to a UAE entity regarding the incorporation of a real estate business as a public shareholding company and subsequent underwriting of the initial public offering of shares of the public company on the Abu Dhabi stock exchange.
  • Advice to, and the conduct of due diligence on behalf of, Logica PLC regarding its proposed purchase of assets of a local UAE company.
  • Advice to United Technical Services as founder of Combined Cargo UAE, a joint venture for the acquisition of ships and the conduct of a bulk cargo business with a view toward eventual public listing of shares in the joint venture company.
  •  Advice to Aerospatiale as founder of Gam-Aero Abu Dhabi, including advice on organisational documents and the share purchase agreement.
  • Advice to General Electric as co-founder of Gulf Turbine Services, including advice on the shareholders agreement, joint venture agreement, trademark agreements, facility lease agreement, and organisational documents.