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Norton Rose Fulbright advises on US$1.159bn and AED 1.609bn syndicated facilities for Majid Al Futtaim Holding LLC | Global law firm | Norton Rose Fulbright

Norton Rose Fulbright advises on US$1.159bn and AED 1.609bn syndicated facilities for Majid Al Futtaim Holding LLC

November 13, 2013

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Global legal practice Norton Rose Fulbright has advised a syndicate of thirteen banks in relation to unsecured US$1.159 billion and AED 1.609 billion syndicated facilities for Majid Al Futtaim Holding LLC (MAF). The bank group comprised of Abu Dhabi Commercial Bank PJSC, First Gulf Bank PJSC, Barclays Bank PLC, Crédit Agricole Corporate and Investment Bank, Emirates NBD Bank PJSC, HSBC Bank Middle East Limited, Standard Chartered Bank, Mashreqbank PSC, Doha Bank, Union National Bank PJSC, National Bank of Kuwait - Dubai Branch, Arab Bank PLC and Samba Financial Group, Dubai Branch.

The facility is to be used by Majid Al Futtaim Holding LLC to refinance existing debt and for general corporate and working capital purposes of the group.

The Majid Al Futtaim Group is a leading regional developer in the Middle East specialising in the development of shopping malls, entertainment and leisure complexes across the region. Norton Rose Fulbright also recently advised Majid Al Futtaim on its international hybrid bond issuance, one of the first international hybrid bond issuances by a corporate borrower in the Gulf region.

Matthew Escritt, banking and finance partner, Norton Rose Fulbright, commented:

“We are pleased to have been involved in this major debt financing for Majid Al Futtaim Holding; the second significant transaction on which we have advised involving this leading UAE corporate in as many weeks. It also shows that the debt finance market in the UAE remains buoyant for investment grade borrowers with strong fundamentals.”

The Norton Rose Fulbright team was led by partner Matthew Escritt with support from senior associate, Nicholas Robinson.

Allen & Overy LLP advised Majid Al Futtaim Holding LLC.

For further information please contact:

Middle East and Africa

Tia Le, Business Development Executive
Tel: +971 4 369 6300
tia.le@nortonrosefulbright.com

Europe, Middle East and Asia

Sarah Webster, Head of PR
Tel: +44 20 7444 5942; Mob: +44 7725 350 425
sarah.webster@nortonrosefulbright.com

Notes for editors:

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