Bahrain > Banking and finance
Banking and finance
Baker & McKenzie Limited’s Bahrain office is best known for advising clients on the financing for Saudi deals, although it regularly acts on matters throughout the region. The group recently advised Marafiq on its first commercial financing – a 15-year, SAR2.5bn murabaha facility – and acted for Arab Bank on a $35.8m term loan facility to Yusuf Bin Ahmed Kanoo for the construction of a building in Bahrain’s diplomatic area. Julie Alexander and Bilal Kahlon have ‘extensive knowledge of the regional banking market’, while Ian Siddell is a ‘very safe pair of hands’.
Norton Rose (Middle East) LLP is noteworthy for project and Islamic finance work. It regularly acts for government entities such as Bahrain Ministry of Finance and Yemen Ministry of Electricity, as well as for global banks and financial institutions including HSBC and Standard Chartered. It also represents regional financial institutions and corporations such as Kuwait Finance House and Saudi Aramco, as well as international sponsors including CNIM and Hanuha Chemical. The team recently advised ALBA on two separate ECA facilities. Dominic Harvey leads the nine-fee-earner practice.
Trowers & Hamlins’ Bahrain office spearheads the firm’s regional banking and finance practice, and represents clients such as HSBC Bank Middle East, Al Salam Bank, and Bahrain Islamic Bank. The group acted as the administrators on the first bank to be formally placed in administration in Bahrain. Regional banking and finance partner Neale Downes, who has been in Bahrain since 2003, is highly recommended, as is Jeremy Ingham.
One of the ‘top three local lawyers’, Hassan Ali Radhi of Hassan Radhi & Associates is ‘particularly strong when it comes to local law advice’. The firm’s clients include Arab International Bank, Central Bank of Bahrain, and BNP Paribas. International firms also regularly select the group to act as local counsel.
Hatim S. Zu’bi & Partners’ Hugh Stokes is one of Bahrain’s best lawyers and a ‘font of knowledge’. The group acts for several international banks and financial institutions on everything from loan finance work to Central Bank of Bahrain issues, and has a long history of working with the royal family. Clients have included HSBC and Gulf International Bank.
Haya Rashed Al Khalifa Attorneys at Law & Legal Consultants’ team is ‘punctual and driven to achieve results for its clients’, and ‘very good for capital markets work’. The group acts for major Bahraini and international banks, as well as multinationals and prominent individuals. Founder Shaikha Haya Al Khalifa is highly rated.
ASAR – Al Ruwayeh & Partners is ‘responsive, commercial, and offers excellent legal advice’. Recent highlights include advising a consortium led by Deutsche Bank on the financing of eight Airbus A320s, and acting for United Steel Company on a multimillion-dollar syndicated credit facility with Mizuho Corporate Bank and Sumitomo Mitsui Banking Corporation.
Charles Russell LLP’s Bahrain team is best known for its private client work, but is also making strides in the corporate and finance sectors. Central Bank of Bahrain appointed the group, which is led by Clive Hopewell, as administrator of Awal Bank – one of the two largest bank administrations in Bahrain.
Qays H. Zu’bi, Attorneys & Legal Consultants’ ‘lawyers (both Western and regionally qualified) are experienced, well connected, and responsive’. Qays Zu’bi worked alongside Freshfields Bruckhaus Deringer LLP to advise the Ministry of Finance on its $1.25tr bond issue, and acted for Rasameel Structured Finance and Malls Real Estate Development on a commodity murabaha financing. Grahame Nelson ‘brings to the table valuable finance and M&A experience’.