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News re-Blog

Tuesday, August 23, 2005

Linklaters instructed by lenders to Saudi banks

Linklaters has advised several bank consortia on landmark loan facilities worth $1.98bn (£1.1bn) for Saudi financial institutions.Banking partner Stephen Lucas led a team from the trade and developing markets group on the four transactions, which are the first of their kind in Saudi Arabia.The firm acted for the lenders in each of the deals.

The banks involved included Calyon, Citibank, JPMorgan and Deutsche Bank, with the borrowers all Saudi banks. The agreements were drafted to comply with Saudi banking law and Sharia law played a small role. All the deals were completed within the last eight months, beginning with the loan facility for Samba. It is expected that the Saudi market will now see an upturn in similar arrangements. Read More ....



Source: The Lawyer | reBlogged By: News Blog re-Blog
Filed Under: Sharia, Banking, Middle East, Saudi, Lender | Permalink



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