backDUBAI, March 24, 2016 — IJGlobal has named projects for which King & Spalding served as the sponsors’ lead international counsel as winners of its Water Deal of the Year and Petrochemicals Deal of the Year for the Middle East and North Africa (MENA) region. At a reception on March 21, the publication named two utility projects at the King Khaled International Airport the MENA Water Deal of the Year and named the Jazan ASU project the MENA Petrochemicals Deal of the Year.
The King Khaled National Airport matters were unusual in that they involved the simultaneous negotiation and financial close of two build-operate-transfer projects; one for reverse osmosis and the other for district cooling. The King & Spalding team on both deals was led by partner Leroy Levy, who was supported by partners Mike Rainey, Mona Katigbak and Zaid Al-Farisi, counsel Mohammad Al-Ammar and transactional specialist Gina Bunker.
The Jazan ASU matter was one of the most important infrastructure deals of 2015, with U.S.-based Air Products and King & Spalding client ACWA Holding of Saudi Arabia achieving financial close of the largest project financing of an air separation unit (ASU) project anywhere in the world. The US$2 billion Jazan ASU project was groundbreaking in that it was the first-ever ASU to be financed exclusively on an Islamic finance basis. The King & Spalding team on that deal was led by Levy with support from Rainey and Katigbak as well as partners Simon Rahimzada, Jill McWhirter and Al-Farisi, counsels Al-Ammar and Alex Blomfield, senior associates Usman Ahmad and Rory Connor as well as Bunker. Project Finance International named this project its Middle East and Africa Industrial Deal of the Year.
King & Spalding’s project finance lawyers have advised clients throughout the world on all aspects of project finance transactions. Representing both project sponsors and lenders, the firm’s project finance practice is based upon a multi-disciplinary approach that reaches across all of the firm’s offices. King & Spalding’s project finance team is adept at structuring transactions on both a conventional and Shari’ah-compliant basis.
About King & Spalding
Celebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 900 lawyers in 18 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients. More information is available at www.kslaw.com.