Mar 21 2011 |
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SNR Denton Advised on the AED250M Deal for the Shari'ah Compliant Facility
ABU DHABI, March 21, 2011--SNR Denton announced today that the firm advised Abu Dhabi Islamic Bank PJSC, Al Hilal Bank PJSC, Mubadala GE Capital PJSC, Al Khalij Commercial Bank ( al khaliji ) Q.S.C., Al Khaliji France S. A., Ajman Bank PJSC and First Gulf Bank PJSC on their successful participation in a AED250 million Shari'ah compliant facility.The facility was made available to Emirates National Factory for Plastic Industries LLC, based in Sharjah. The deal was structured as a syndicated master sale and ijara-back facility, and involved a number of disbursements and a mixture of moveable assets and real estate. The deal was split into a AED tranche and a US$ tranche.
"The deal contained several highly complicated financial structures and necessitated in-depth knowledge of the financial institutions involved. In addition, there were a number of complex local law issues that needed to be considered," said Paul Jarvis, a Partner in SNR Denton's Islamic Finance group.
In addition to Jarvis, the SNR Denton team included Michelle Teng (Abu Dhabi).
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About SNR Denton
SNR Denton is a client-focused international legal practice delivering quality and value. We serve clients in key business and financial centers from 60 locations in 43 countries, through offices, associate firms and special alliances across the US, UK, Europe, the Middle East, Russia and the CIS, Asia Pacific and Africa, making us a top 25 legal services provider by lawyers and professionals worldwide. Joining the complementary top tier practices of its founding firms -- Sonnenschein Nath & Rosenthal LLP and Denton Wilde Sapte LLP SNR Denton offers business, government and institutional clients premier service and a disciplined focus to meet evolving needs in eight key industry sectors: Energy, Transport and Infrastructure; Financial Institutions and Funds; Government; Health and Life Sciences; Insurance; Manufacturing; Real Estate, Retail and Hotels; and Technology, Media and Telecommunications. Please see snrdenton.com for more information and Legal Notices.
Media Contact:
Elyse Blazey
+1 212 398 7643,
elyse.blazey@snrdenton.com
© Press Release 2011
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