Banking
&
Finance

OVERVIEW:

ASAR is proud to have a leading banking and finance practice. We provide a full range of banking and financial advisory services, including structuring transactions, drafting finance documents (e.g. loan documents, security documents, guarantees, fee letters, and inter-creditor documentation), managing conditions precedent processes, issuing legal opinions and assisting with negotiations.

We typically advise both lenders and borrowers about the full range of conventional and Islamic based financial transactions and structures, including bilateral loans, club deals, and syndicated loans.

Our expertise further entails specialized financing transactions such as project finance, structured finance, aircraft finance, ship finance and other asset finance transactions.

ASAR is also at the forefront of advising on complex finance products and regularly advises on derivatives, including providing advice for ISDA and GMRA documentation and other master agreements.

EXPERIENCE:

  • Acted as Kuwait law counsel to (the mandated lead arrangers (i.e., National Bank of Kuwait S.A.K.P. and Kuwait Finance House K.S.C.P.) and international financial institutions and export credit agencies, in relation to KD 3.1 billion financing of Kuwait National Petroleum Company K.S.C. (KNPC) clean fuel project.
  • Acted as Kuwait law counsel to the Finance Parties including HSBC Bank Middle East Limited, J.P. Morgan Limited, National Bank of Kuwait, and the Royal Bank of Scotland on a USD 6 billion loan facility project for Equate Petrochemical Company K.S.C.C during its acquisition of petrochemical company ME Global from Dow Chemical.
  • Advised Varengold Bank AG on a USD 100 million term loan facility and equity derivative transaction (under an ISDA Master Agreement) to be entered into with Kuwaiti counterparties.
  • Acted as Kuwait law counsel to Doha Bank Q.S.C. in relation to USD 200 million facilities to the Borrower for the purposes of the completion of real estate development projects in Qatar.
  • Advised Barclays Bank PLC, BNP Paribas Fortis SA/NV and Mashreqbank PSC on a USD 400 million to a term loan and revolving credit facilities for a UAE company that had to be guaranteed by a Kuwaiti company.
  • Advised Standard Chartered Bank, DIFC Branch in relation to a secured USD 200 million import letter of credit facility and financial guarantees/standby letter of credit facility to a Kuwaiti company.
  • Advised on a USD 350 million Loan by the London branch of an international bank to a subsidiary of a Kuwaiti company.
  • Advised a Lenders Syndicate on providing term loan facilities to a special purpose project company operating a waste water treatment plant in Kuwait. The facilities amount was USD 680 million.
  • Acted as local counsel to a syndicate of participating banks in connection with two trade finance facility transactions totalling USD 1.8 billion involving the discounting of crude oil.
  • Acted as Kuwait counsel with regard to a USD 200 million financing to a regional shipping company structured as a French lease.
  • Acted as lead counsel to a borrower regarding its facility for USD 50 million from a Swiss Bank.
  • Advised a leading cement manufacturer in Kuwait regarding its USD 120 million export credit facility agreement with an international lender.
  • Advised a leading transportation company regarding its loan of USD 30 million with International Finance Corporation of the World Bank group.
  • Advised a Kuwaiti and Saudi entity regarding their sponsor obligations to International Finance Corporation (of the World Bank Group) and Asia Development Bank in relation to facilities totalling USD 275 million granted to their Pakistani subsidiary.
  • Advised a syndicate of banks led by a Kuwaiti bank regarding their facility of KD 178.5 million to a Kuwaiti entity for the purposes of funding an electric power project.
  • Advised DVB Group Merchant Bank as lenders to a Kuwaiti petroleum group regarding their USD 56 million facility.
  • Advised Commercial Bank of Qatar regarding its QAR 284.3 million facility to a leading Kuwaiti general contracting company.
  • Advised Commercial Bank of Qatar regarding its USD 130 million facility to a leading Kuwaiti general contracting company.
  • Advised lenders to a leading multinational shipping company regarding their provision of a facility for the financing of a container carrier in 2010.
  • Advised lenders to a leading multinational shipping company regarding their provision of a facility for the financing of a container carrier in 2011.
  • Advised international lenders regarding their USD 1.3 billion to a Kuwaiti telecommunications company.