1. Debt Capital Markets

• Acted as Kuwait counsel to Boubyan Bank in its issuance of Tier 1 Capital enhancing Sukuk worth $250 million. This transaction was the first instance in which a Kuwaiti bank issued Sukuk for the enhancement of Tier1 Capital.
• Acted as Kuwait counsel to Warba Bank in its issuance of Tier 1 Capital enhancing sukuk worth $250 million.

1. Banking & Finance (Conventional & Sharia-Compliant)

• Acted as lead counsel for Warba Bank in its Sharia-compliant acquisition of KD 20 Million (US$ 66 Million) auto finance portfolio from Al Mulla International Finance Company.
• Acted as Kuwait counsel to Kuwait National Petroleum Company and Kuwait Petroleum Company in relation to the facilities granted by a consortium of local and foreign banks amounting to more than KD 900 Million.
• Acted as lead counsel for Commercial Bank of Kuwait, as Lead Arranger, in a syndicated loan financing transaction for Mohammed Al-Kharafi & Sons with respect to a major contract with the Amiri Diwan valued at KD 365 Million (US$ 1.2 Billion) regarding New Jahra Hospital in Kuwait.
• Acted as sole legal counsel to National Bank of Kuwait on a US$ 200 Million financing (included both credit instruments and cash facilities) of submersible oil pumping stations for Al Khorayef Group Company with respect to Kuwait Oil Company.
• Represented Rasameel Structured Finance Company, as Lead Arranger, in acquiring several large vehicle lease portfolios from multiple leasing companies by use of a complex set of Sharia-compliant finance transactions totaling over US$ 20 Million.
• Acted on behalf of a consortium of Kuwait banks led by Gulf Bank in a US$ 407 Million restructuring of the debt of Kuwait Pipe Industries & Oil Services Company and its subsidiaries in the UAE and Egypt entailing a debt for asset swap and debt for equity swap.
• Acted as Kuwait legal counsel to NBK Capital Mezzanine in a US$ 23 Million mezzanine finance related to a leveraged buy-out by a Dubai-based entity of a well-known Kuwait food & beverage company.
• Represented a consortium of local banks (both conventional and Sharia-compliant) on a restructuring of US$ 120 Million worth of debt with Al Mal Investment Company by use of both a debt for asset swap and debt for equity swap.
• Represented National Bank of Kuwait and Ahli United Bank, as Mandated Lead Arrangers, on behalf of local and foreign creditors, on a KD 145 Million ($527 Million) debt restructuring of Kuwait Finance & Investment Company, which included separate tranches of US Dollar, KD conventional and KD Sharia-compliant creditors as well as a debt for equip swap.
• In-house legal counsel for Shuaa Capital in relation to AED 450 Million facility from UAE banks, including negotiation with lenders’ counsel of the transaction documents and security documents.
• In-house legal counsel for Shuaa Capital in relation to the sale of a finance company (subsidiary) to a major UAE foreign exchange company.
• In-house legal counsel for Abu Dhabi Financial Group in relation to the acquisition of Stanford Marine Group and currently handling post-acquisition restructuring of the group’s $450m debt with a syndicate of UAE and GCC banks, in parallel with the post-acquisition reorganization of the group.

1. Projects, Energy & Infrastructure:

Represented Utilities Development Company, a subsidiary of Kharafi National, in relation to a US$ 608 Million financing (containing both a conventional and Sharia-compliant tranche) with respect to both the refinancing of original debt and financing the expansion of the Sulaibiya Wastewater Treatment & Reclamation Plant, which was originally completed on a build, operate and transfer basis pursuant to a concession contract with the Kuwait Ministry of Public Works in 2001.