Zaid Hadir
Al-Farisi

Acquisition Finance

Represented a major investment company in connection with the financing of its strategic acquisition of shares in one of Saudi Arabia’s leading supermarket and hypermarket groups.

Represented the borrower in relation to a US$232 million facility in connection with an acquisition of membership interests in a company.

Represented Arab National Bank in a US$200 million financing for a cross-border acquisition of assets.

Represented a fund manager of a Saudi real estate fund in connection with a Shari’ah-compliant financing for the acquisition of three income-producing properties in Riyadh, Saudi Arabia.

Development and Real Estate Finance

Representing Jeddah Economic Company Limited, the owner and developer of the Jeddah Economic City Project, and Alinma Investment Company, the fund manager of Alinma Jeddah Economic City Real Estate Fund, in the SAR 3.6 billion (approximately US$960 million) financing for the development of the project, including the kilometre-high tower, which is anticipated to be the tallest structure in the world upon completion.

Represented the fund manager of a Saudi real estate development fund in connection with a SAR 680 million Shari’ah-compliant financing for the development of a residential compound in Riyadh, Saudi Arabia.

Represented Samba Financial Group in connection with a SAR 500 million financing for the development of infrastructure for three properties in Riyadh, Saudi Arabia.

Represented Alinma Bank in a SAR 400 million Shari’ah-compliant facility extended to a Saudi Arabian company in connection with the development of a hotel in Makkah.

Represented the fund manager of a Saudi real estate development fund in connection with a SAR 132.5 million Shari’ah-compliant financing for the construction of more than 100 housing units in Saudi Arabia.

Represented the fund manager of a Saudi real estate development fund in connection with a SAR 120 million Shari’ah-compliant financing for the construction of two residential towers in Saudi Arabia.

Represented Banque Saudi Fransi in connection with a SAR 98 million Shari’ah-compliant financing in relation to the development of a hotel in Jeddah.

Project Finance

Represented ACWA Holding in the project financing of the largest industrial gases deal in the world. The project, to be procured on a build-own-operate basis, is for the construction of a US$2 billion air separation unit for the supply of industrial gases to Saudi Aramco at Jizan. It is the first project financing of an air separation unit in the Middle East and the only such project to have been financed wholly on a Shari’ah-compliant basis. The deal was awarded “Project Finance Deal of the Year” for 2015 by Islamic Finance News.

Represented Saudi Tabreed District Cooling Company in connection with Shari’ah-compliant project financing facilities extended by SABB and SAMBA Financial Group for the construction of a district cooling project at King Khaled International Airport Riyadh, in the first project in the Gulf involving the outsourcing of utilities at an airport to the private sector.

Represented Miahona Company in connection with Shari’ah-compliant project financing facilities extended by SABB and SAMBA Financial Group for the construction of a potable water project at King Khaled Airport in Riyadh.

Restructuring and Re-financings

Represented Alinma Bank in an SAR 1.7 billion Shari’ah-compliant refinancing of a facility extended to a major mall developer in Saudi Arabia.

Represented Saudi Hollandi Bank, Arab Bank and Arab National Bank in the restructuring of a SAR 250 million acquisition financing in Saudi Arabia.

Representing the financing banks in relation to a rescheduling of repayments due from a major Saudi petrochemicals company under a US$500 million term loan facility.

Represented a large Saudi family-owned business in restructuring its debt to a number of banks in Saudi Arabia and other jurisdictions.

Other

Represented a major Asian bank in connection with a proposed US$10 billion secured term loan.

Represented multiple Saudi venture capital funds participating in the Saudi government–sponsored “Musharakah” program supporting funds and investors targeting SMEs, including the first such fund, in Shari’ah-compliant financings extended by Saudi Arabian banks.

Represented a major Saudi bank in connection with SAR 2.5 billion proposed Shari’ah-compliant facilities to be extended to a Saudi company.

Represented a major Saudi petrochemicals company as borrower in relation to a US$250 million multicurrency revolving facility agreement.

Preparation of standard form documentation (including standard forms of guarantees, assignments, pledges and term loan facilities) to be used by major commercial banks in Saudi Arabia.