ASAR, Kuwait’s leading corporate law firm, and one of the region’s top tier firms, was appointed as Kuwait legal counsel to a consortium of international, regional and Kuwaiti banks in relation to a US$1 billion five-year term loan for Kuwait Foreign Petroleum Exploration Company (KUFPEC), from a syndicate of financial institutions led by, amongst others, HSBC Bank Middle East Limited, J.P. Morgan Limited, National Bank of Kuwait S.A.K.P., The Bank of Tokyo-Mitsubishi UFJ, LTD, and The Royal Bank of Scotland PLC, all as Initial Mandated Lead Arrangers.
The five-year term loan facility was signed to meet KUFPEC’s ambitious general corporate purposes and international expansion plans.
Rob Little, Counsel at ASAR said: “Our expertise in this particular deal benchmarks the firms capabilities in assisting organizations and financial institutions in furthering their corporate objectives. Through our specialist legal expertise, we offer our clients with bespoke legal advice that will assist them in realizing their corporate objectives. Today’s announcement further reinforces our leading position in advising global financial institutions and corporates.
John Cunha, Partner at ASAR added: “We are proud to be an integral part of a robust growth movement that seeks economic success. Being retained by an array of the world’s leading financial institutions is a testament to ASAR’s leading banking and finance reputation in the market and our capability as specialists in this area of the law .”
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 (IFLR) and the Legal 500. In October 2014 ASAR won the “IFLR National Law Firm of the Year Award” and the “Project Finance Deal of the Year Award”. In addition, ASAR also won the prestigious “2014 Commercial Litigation Law Firm of the Year” and the “2014 Best Banking and Finance Legal Team –Kuwait” awards from Acquisition International Magazine in 2014. ASAR lawyers also received multiple awards under different categories in the Fourth Edition of “Best Lawyers” in Kuwait.