Kuwait’s leading corporate law firm represented local as well as international financial institutions to secure a five-year syndicated loan to be used for KUFPEC’s general corporate purposes and to finance its international expansion plans
ASAR – Al Ruwayeh & Partners (ASAR), announced today that it has acted as Kuwait law counsel to the lead arrangers and agents in relation to a $750 million syndicated loan facility to Kuwait Foreign Exploration Company’s (KUFPEC). The five-year syndicated loan will be used for KUFPEC’s general corporate purposes and to finance its international expansion plans. The company is active in exploration, development and production of crude oil and natural gas in Africa, Middle East, Asia and Australia.
ASAR provided legal counsel to an extensive range of leading local as well as international financial institutions that included Initial Mandated Lead Arrangers, NBK, J.P. Morgan, The Bank of Tokyo-Mitsubishi UFJ, HSBC and The Royal Bank of Scotland; the Mandated Lead Arrangers, Europe Arab Bank plc, Arab Banking Corporation, Arab Petroleum Investments Corporation (APICORP), Burgan Bank, Commercial Bank of Kuwait, Gulf Bank, National Bank of Abu Dhabi, Natixis, Qatar National Bank, Union National Bank; and the Arrangers, Al Ahli Bank of Kuwait, Bank of Bahrain and Kuwait and Scotiabank Europe plc, amongst others.
Rob Little, partner at ASAR, said: “We are proud to have participated in one of Kuwait’s landmark financing deals. This is a significant transaction on a number of levels, as, amongst others, it represents a new step towards further developing the country’s petroleum sector, while also demonstrating the enhanced appetite by commercial banks to finance the growth plans of companies which have solid fundamentals.”
“For ASAR, it is a further great example of our expertise in advising major international as well as local financial institutions on complex deals, and our ability to provide robust legal advice for our wide range of clients,” added John Cunha, also a partner at ASAR.
ASAR’s team included Rob Little, and John Cunha.
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.
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