Milbank has a proven track record in advising banks on complex sukuk issuances and high-value refinancing and restructuring mandates. The team is a go-to for lenders on cross-border instructions, with Shariah-compliant debt sitting alongside conventional funding. John Dewar and Munib Hussain co-lead the practice. Dewar is highly regarded for his in-depth knowledge on developing new structures, while Hussain handles transactions involving a range of facilities, from Murabaha to Wakala.
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Key clients
- NCB Capital
- Al Rajhi Bank
- Alinma Bank
- Riyad Bank
- HSBC Saudi Arabia
- MUFG (Malaysia)
- National Bank of Kuwait
- Islamic Development Bank
- Abu Dhabi Pension Fund
- Emirates Islamic Bank
- ADCB Emirates NBD Capital
Work highlights
Advised the lenders in the provision of a floating rate facility to partially fund the refinancing of an existing facility granted to GreenSaif Pipelines Bidco S.à r.l. for the acquisition of Aramco Gas Pipelines Company, a subsidiary of Saudi Aramco.
Advised Japan Bank for International Cooperation (JBIC), Public Investment Fund of Saudi Arabia (PIF) and commercial and Islamic banks as the lenders in connection with the financial completion of the Rabigh Phase 2 Project.
Advised the financing sources on an $11.2 billion senior debt refinancing program to EIGPearl Holdings S.à r.l., with proceeds used to repay amounts drawn under an acquisition debt facility that was used to finance its June 2021 acquisition of a 49% interest in Aramco Oil Pipelines Company, asubsidiary of Saudi Aramco, which owns usage lease rights in respect of a large pipeline network in the Kingdom of Saudi Arabia.
Lawyers
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The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
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Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Practice head
John Dewar; Munib Hussain