Allen & Overy advised Arab Banking Corporation (B.S.C.) as original mandated lead arranger in relation to a USD1 billion syndicated facility for Union National Bank, which was signed yesterday.
The lenders include a syndicate of regional and international banks including Arab Banking Corporation, The Bank Of Tokyo-Mitsubishi UFJ Ltd., Citibank N.A. London Branch, Commerzbank Aktiengesellschaft, ING Bank N.V. and Raiffeisen Zentralbank ?sterreich Aktiengesellschaft, with The Bank Of Tokyo-Mitsubishi UFJ Ltd. as Facility Agent.
The Allen & Overy Dubai-based team was led by partner and head of the Dubai banking practice Bimal Desai, assisted by senior associate Shehzaad Sacranie.
Allen & Overy partner Bimal Desai commented, "We are very pleased to have advised Arab Banking Corporation on this transaction, which demonstrates our syndicated loan expertise and reflects our leading position in the Middle East".
For further information, please contact Bimal Desai (bimal.desai@allenovery.com) on +971 (0)4 303 5635 or Melanie Carruthers (melanie.carruthers@allenovery.com) on +971 (0)4 303 5639 in Dubai.
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Notes for Editors:
Allen & Overy is an international legal practice with over 5,000 staff, including some 450 partners, working in 25 major centres worldwide.
Allen & Overy in Dubai was named 'Middle East Law Firm of the Year' and 'UAE Law Firm of the Year' at the IFLR Middle East Awards 2006 and 'Middle Eastern Law Firm of the Year' at the Chambers Global Awards 2006.
Allen & Overy in Dubai has 50 staff with 6 partners and 25 associates.
In this press release 'Allen & Overy' means Allen & Overy LLP and/or its affiliated undertakings.
Any reference to a 'partner' means a member of Allen & Overy LLP or an employee of or consultant to Allen & Overy LLP who has equivalent standing and qualifications, or a member, shareholder, partner of or consultant to an affiliated undertaking who has equivalent standing and qualifications.
© Press Release 2006
