ASAR Acts as Kuwait Legal Advisor to Banks associated in Zain Kuwait’s $800 million Five-year loan facility
ASAR, Kuwait’s leading and most prominent corporate law firm, and one of the region’s top tier firms, was appointed legal advisor in Kuwait to 11 banks associated in the latest Zain Kuwait $800 million five-year amortizing syndicated revolving credit facility, which is set to serve general corporate purposes.
The deal, which was initially planned for $600 million was upsized to $800 million following an exceptionally strong response from various banks. The firm was appointed as legal advisor in Kuwait to Crédit Agricole, National Bank of Abu Dhabi, National Bank of Kuwait, Samba Financial Group, Al Khalij Commercial Bank, Arab Bank, Arab Banking Corp, Union National Bank, Bank of Tokyo-Mitsubishi UFJ, Royal Bank of Scotland and Natixis.
Mr. Rob Little, Partner at ASAR – Al Ruwayeh & Partners said: “This deal highlights the trust of world renowned banks in the expertise of ASAR’s counseling services. We are proud to have taken part in Zain’s latest deal, representing a number of international and regional well-known banks to facilitate the $800 million five year credit facility in Kuwait. As Kuwait’s leading corporate law firm, we believe that the outcome of this deal will result in great success to both the lenders and for Zain Kuwait.”
Mr. John Cunha, Partner at ASAR – Al Ruwayeh & Partners added: “This has been a fruitful year for ASAR thus far. This latest deal underlines ASAR’s in-depth knowledge of corporate law and the local and regional market and the trust of international banks in the ASAR’s services and capabilities. We will continue offering unprecedented corporate legal counsel to the largest firms in the region, and help nourish the Kuwaiti and regional markets in particular.”
With dedicated offices in Kuwait and Bahrain coupled with its associated offices and relationships, ASAR provides clients across an extensive range of industry sectors with comprehensive legal advice and support for their business activities in Kuwait, across the GCC and beyond.
The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the Chambers Global Guide, International Financial Law Review and the Legal 500. In 2013, ASAR was named as the “Best Law Firm in Kuwait 2013” by the International Financial Law Review (IFLR), the market-leading guide for financial law firms worldwide. The firm also won the “Best Restructuring Deal in the Middle East” award by IFLR during the same year.