| 02 Sep 2010 |
|
Ashurst advises Abu Dhabi Islamic Bank and Al Hilal Bank on Emirates Steel's US$1.1 billion project financing agreement
- Text size
Ashurst advised the Islamic Term Arrangers, Abu Dhabi Islamic BankAbu Dhabi Islamic Bank
and Al Hilal BankAl Hilal Bank, in connection with Emirates SteelEmirates Steel's US$ 1.1 seven year financing for the Emirates Steel IndustriesEmirates Steel Industries expansion project. The financing comprised a US$733 million limited-recourse facility from seven conventional banks and a US$367 million ijara (lease) facility from the two Islamic arrangers. Ashurst acted as counsel to the Islamic banks.
(Neil Cuthbert) acted as counsel to Emirates SteelEmirates Steel and Allen & OveryAllen & Overy (Bimal Desai) acted as common lenders' counsel to the banks.-Ends-
Ashurst
Ashurst LLP and its affiliated undertakings trade under the name Ashurst. Ashurst LLP is a limited liability partnership registered in England and Wales under number OC330252. The term 'partner' is used to refer to a member of Ashurst LLP or to an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Ashurst LLP's affiliated undertakings. Further information about Ashurst LLP and its affiliated undertakings can be found at www.ashurst.com.
Ashurst LLP or affiliated undertakings have offices in each of the following places: Abu Dhabi, Brussels, Dubai, Frankfurt, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Singapore, Stockholm, Tokyo and Washington DC.
For further media information/interview opportunities please contact:
Emily Maynes
+44 (0) 20 7859 2446 / 07818 576 014
Claire Malkoun
+44 (0) 20 7859 3960 / 07813 981 936
© Press Release 2010
x
DISCLAIMER
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Access to this article is subject to specific terms and condition.
More News in Islamic Finance
Loading ...Free Newsletter
Get the latest news from Islamic Finance and other Free newsletters.
Post a Comment
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.