Addleshaw Goddard continues to be recognized for its ‘excellent’ banking and finance practice under the leadership of Roger Byrne. The team is known for handling high-value and complex financing and refinancing deals across the region. James Shaw advises on corporate lending and borrowing work and is recommended for project finance matters. Real estate finance and energy-related project finance transactions are also drivers of work.
Banking and finance in Oman
Addleshaw Goddard
Practice head(s):
Roger Byrne
Other key lawyers:
James Shaw
Testimonials
‘Very responsive and helpful. The team knows the Oman market well.’
‘Roger Byrne – powerhouse in Oman, useful and knows the market, and is excellent technically. Great manager.’
‘Addleshaw Goddard’s banking and finance team in Oman is excellent. Within their team, Roger Byrne provides outstanding leadership, as well as undertaking a substantial amount of work.’
‘Roger has built up an excellent team around him that has within the space of a few years (from when Addleshaw Goddard first set up in Oman) established Addleshaw Goddard as one of the leading international law firms in Oman.’
‘The firm is very flexible with its billing and charge rates. They will always find a way to accommodate loyal clients through difficult times.’
‘Roger Byrne is a very knowledgeable and patient law professional. He goes the extra mile for his clients and always surfaces issues or angles that the client has missed.’
Key clients
Bank Muscat SAOG
Qatari Diar / Ras Al Hadd Luxury Services SPC
Mashreqbank psc
HSBC Bank Oman SAOG and HSBC plc
Alizz Islamic Bank SAOC
The Commercial Bank
Ahli Bank SAOG
National Bank of Oman SAOG
Gulf International Poultry Farms LLC
Oman Arab Bank SAOG
BankDhofar SAOG
Bank Nizwa SAOG
Nama Group
Standard Chartered Bank
Sohar International Bank SAOG
Mizuho Bank
Bank Muscat SAOG
Qatari Diar / Ras Al Hadd Luxury Services SPC
Mashreqbank psc
HSBC Bank Oman SAOG and HSBC plc
Alizz Islamic Bank SAOC
The Commercial Bank
Ahli Bank SAOG
National Bank of Oman SAOG
Gulf International Poultry Farms LLC
Oman Arab Bank SAOG
BankDhofar SAOG
Bank Nizwa SAOG
Nama Group
Standard Chartered Bank
Sohar International Bank SAOG
Mizuho Bank
Work highlights
- Advising Mazoon Electricity Company SAOC on its $235m 2021 Islamic Ijara Bridge Loan Facility arranged by National Bank of Bahrain and led by Kuwait International Bank and obtaining required regulatory consents from the Authority for Public Service Regulation
- Advising the issue dealers in connection with the OQ SAOC $2bn Global Medium Term Note Programme
Al Busaidy, Mansoor Jamal & Co
Al Busaidy, Mansoor Jamal & Co‘s market-leading banking practice, which is jointly led by senior partner Mansoor Jamal Malik
and Marcus Pery, handles transactions involving both conventional and Islamic financing structures, particularly sovereign sukuks and musharakah. It also has additional strengths in asset finance and project finance transactions. Pery, who is noted for syndicated lending work, has a strong profile among both lenders and borrowers. Senior associate Andrew Coddington advises on Islamic financing transactions.
Practice head(s):
Mansoor Jamal; Marcus Pery
Other key lawyers:
Andrew Coddington
Testimonials
‘The team at AMJ are knowledgeable, pragmatic and responsive. With due justification, they continue to reign as my number 1 choice in Oman for banking and finance matters.’
‘Marcus Pery is unquestionably a market-leader in banking and finance in Oman. He is the safest pair of hands in the market. His level of service is always outstanding. Andrew Coddington is knowledgeable and always delivers high-quality advice. It is always a pleasure working with Andrew.’
‘The team are very helpful and courteous.’
‘AMJ is a leading firm in the Omani market, with Mansoor Jamal a market leader across the board. AMJ is our go-to firm and our first choice on any Omani instruction. The firm has a deep bench and provides excellent advice.’
‘Mansoor Jamal Malik is a market leader across the board. Marcus Pery is very solid and helpful.’
Key clients
Bank Muscat SAOG
Arab Banking Corporation B.S.C.
Arab Bank Plc
Sohar International Bank SAOG
National Bank of Oman SAOG
Renaissance Services SAOG
Octal SAOC FZC
Ahli Bank SAOG
Bank Dhofar SAOG
First Abu Dhabi Bank PJSC
Gulf International Bank B.S.C.
Emirates NBD PJSC
Moon Iron & Steel Co SAOC
Bank Nizwa SAOG
Work highlights
- Advised First Abu Dhabi Bank B.S.C. in relation to a $2bn term loan facility for the Government of the Sultanate of Oman, represented by its Ministry of Finance.
- Advising AKA Ausfuhrkredit GMBH on the ECA-backed export finance facility of €234.8m to Oman Sugar Refinery Company LLC for the construction of a sugar refinery.
- Acted for United States International Development Finance Corporation (DFC) with respect to a proposed loan of up to $300m to PetroTel Oman LLC.
Dentons
At Dentons, the first-rate practice stands out in the Omani market, particularly in relation to debt capital markets transactions and energy sector financings. It is led by Sadaf Buchanan, who has almost 20 years of restructuring and finance experience. Counsel and New Zealand-qualified barrister Justine Harding has extensive experience of acting for local and international banks, borrowers and issuers on domestic and cross-border transactions.
Practice head(s):
Sadaf Buchanan
Other key lawyers:
Justine Harding
Testimonials
‘Sadaf Buchanan is in a league of her own in Oman. She knows everyone, and knows how to deal with them efficiently and use that network. Sadaf leads the way in Oman establishing new financial market practices (as was the case in our deal).’
‘Undoubtedly the stand out banking team in Oman. They are the only all-female legal team I am aware of in the Middle East, which is a great testament to all things good in 2021.’
‘Diversity and inclusion notwithstanding, which relates to the Omani women they have in the team, they are simply the best banking legal team in the country. Hands down.’
‘Their ability, approachability, professionalism and that they actually do care and strive for the best. It is important to them.
‘Stand out person has to be Justine Harding. Diligent and hard working, she has the ability and intelligence to get the job done. She is the reason why I refer my clients to her because I know she won’t let them (and me) down.’
Key clients
Bank Dhofar SAOG
Citigroup Global Markets Limited
Standard Chartered Bank (SCB)
National Bank of Oman SAOG (NBO)
OQ Gas Networks SAOC (formerly Oman Gas Company SAOC) (OGC)
International Company for Water And Power Projects (ACWA Power)
International Swaps and Derivatives Association (ISDA)
Mohammed Al Barwani LLC
Oman Electricity Transmission Company
Work highlights
- Advised National Bank of Oman (NBO) on a further $300m perpetual tier 1 capital securities issuance.
- Advised Oman Electricity Transmission Company (OETC) on a further international bond issuance in connection with the subscription of the $600m 5.800% guaranteed notes due in 2031.
- Advised our client; Mohammed Al Barwani LLC in relation to amendments to terms and conditions of its Reg S Sukuk issuance of $51m certificates and OMR9.86 million certificates issued in June 2016.
Al Alawi & Co. Advocates & Legal Consultants
Al Alawi & Co. Advocates & Legal Consultants’ banking practice (which sits within the wider corporate group at the firm) is active in domestic and cross-border finance transactions. Practice head Riza Ismail specialises in Islamic finance, particularly sukuk issuances, as well as project finance transactions. She is supported by associate Ayoub Al Rawahi. Ali Khamis Al Alawi is also a key contact.
Practice head(s):
Riza Ismail
Other key lawyers:
Ayoub Al Rawahi; Ali Khamis Al Alawi
Key clients
Alizz Islamic Bank S.A.O.G.
Ahli Islamic, Ahli Bank S.A.O.G
Ahli Bank S.A.O.G
Qatar National Bank Q.P.S.C, Oman Branch
Oman Arab Bank S.A.O.C
Salalah Free Zone Company S.A.O.C
Blue Star Limited
Majan Glass Company S.A.O.G
Al Tasneem Infrastructure LLC
Muscat Overseas Company LLC
Work highlights
- Advised Alizz Islamic Bank on financing of the development and construction of a commercial shrimp farm in Al Qurun by Natural Shrimp Aquaculture L.L.C.
- Advised Ahli Islamic, Ahli Bank S.A.O.G on financing of the first PPP project in Oman, undertaken by Takamul Hospitality & Investment Company S.A.O.C, a subsidiary of ASAS.
- Advised Ahli Bank S.A.O.G on financing of the development of logistics infrastructure in Duqm, by a project company established by a consortium comprising Port of Duqm Company S.A.O.C, ASYAD Group S.A.O.C and Consortium Antwerp Port Industrial Port Land NV.
BSA Al Rashdi & Al Barwani Advocates & Legal Consultants
The banking team at BSA Al Rashdi & Al Barwani Advocates & Legal Consultants, which is led by Arsalan Tariq in Muscat, has an excellent record in Islamic finance transactions. It handles a variety of matters, such as asset finance and corporate finance transactions, as well as debt restructurings. The team specialises in domestic and cross-border bond and sukuk issuances, and counts various banks as key clients. Insolvency-related matters have also been an area of increased activity for the group.
Practice head(s):
Arsalan Tariq
Testimonials
‘Mr. Arsalan Tariq is our main contact in the firm. His in-depth knowledge of Islamic banking, along with his cross border legal experience in Islamic finance, makes him unique in the Islamic finance practice in Oman. He has successfully advised and supported us in the majority of our legal needs for our operations, which ranges from advice on corporate transactions to advising on daily routine matters.’
‘Mr. Arsalan Tariq is a top-ranked practitioner in Islamic finance practice in Oman. He is very knowledgeable and impresses clients with his knowledge of the subject.’
‘BSA Al Rashdi & Al Barwani Advocates & Legal Consultants keeps abreast of possible business perils and helps clients successfully guard against that. The firm is splendid in its corporate and banking and finance practice in Oman.’
Key clients
Maisarah Islamic banking Services
Oriental Shrimp Aquaculture LLC
Blue Waters LLC
MB Holding Company LLC
Alizz Islamic
Ahli Bank S.A.O.G.
Bank of Beirut
Work highlights
- Advised Maisarah on the restructuring of a finance facility in the amount of OMR 37,000,000/ (Omani Rials Thirty-Seven Million only) provided to Tilal Development Company SAOC.
- Appointed by the client; Oriental Shrimp Aquaculture Company LLC to represent them in obtaining a Dimishing Musharaka facility from Sohar Islamic, the Islamic arm of Sohar International Bank.
Said Al-Shahry & Partners (SASLO)
At Said Al-Shahry & Partners (SASLO)
, the banking team is now jointly led by Thamer Al-Shahry and Jeremy Pooley. It is experienced in handling debt capital markets transactions, as well as mandates spanning areas such as leveraged finance, project finance, mezzanine finance and Islamic finance. Special counsel Graham Mouat has over three decades of experience in international banking work and is recommended for corporate aspects of finance transactions. Executive partner Ahmed Subai has now retired.
Practice head(s):
Thamer Al Shahry; Jeremy Pooley
Other key lawyers:
Graham Mouat
Testimonials
‘Oman is a difficult jurisdiction. Graham Mouat is tenacious and capable. He is pragmatic and helps navigate issues with patience and good humour. Recommended.’
Key clients
Ahli Bank SAOG