Conventional Finance

Conventional Finance remains common

Given the high involvement of international banks in the loans required for many private sector and governmental projects under Vision 2030 and the National Transformation Plan, conventional (non-Islamic) structures remain common, even for financing to Saudi corporations or projects. Drafting and advising on such agreements requires both the market-leading experience provided by Linklaters and the deep knowledge of Saudi law and practice which the Z&Co. team possesses.

Martin Creek is one of Z&Co.’s experts on finance and corporate law advising clients in a wide range of matters, including corporate and commercial law, capital markets, bank finance, and foreign investment transactions. Working collectively with Linklaters, his team has extensive experience with such conventional arrangements, many of which require cross-border experience in a number of jurisdictions, including the following transactions:

  • The banks on the USD $450 million facility to Archirodon Group NV;
  • The banks on a SAR1.090 billion multicurrency term and revolving facility for National Container Terminals Co. Ltd.;
  • The banks on an AED367 million facility for Joannou & Paraskevaides (Overseas) Limited.;
  • The banks on a USD $2.3 billion facility for Saudi Electricity Company;
  • An international development finance institution on its proposed financing for a Saudi corporation’s expansion activities; and
  • An international state-owned bank on its proposed financing of a major infrastructure project in the Kingdom of Saudi Arabia.