Dentons advises Qatar’s Ezdan on $460m facility

Dubai: Dentons has advised Qatar’s Ezdan Holding Group on a US$460 million Islamic syndicated finance facility.

Ezdan Holding Group is a listed Qatar Public Shareholding Company and is one of the region’s pre-eminent and largest real estate developers and investors. This financing is another successful and strategic financing for Ezdan and was oversubscribed by over 1.5 times. It follows the launch of its debut US$500 million Sukuk issuance earlier this year. Mashreqbank, Dubai Islamic Bank and HSBC Bank Middle East Limited were the bookrunners and initial mandated lead arrangers and were joined by seven other participant banks consisting of regional and international banks. This included Emirates NBD, Union National Bank, Ahli United Bank – Al Hilal Islamic Banking Services, National Bank of Ras Al Khaimah, BBK B.S.C, ICBC Doha and United Bank Limited.

“We hail and recognize the efforts made by the Dentons team, which enabled the syndicated loan deal to be another milestone with a successful large subscription, reflecting that Ezdan is in high demand in the market. We also appreciate the continuous support clearly provided by Dentons in order to close this transaction very efficiently,” Ezdan Group’s CEO, Ali Mohammed Al-Obaidli, said.

“We are delighted to have worked closely with Ezdan again on this significant financing for the group. The financing was well oversubscribed, which is a testament to Ezdan’s continued strong performance and the confidence it has been able to garner from regional and international financial institutions. We look forward to continuing to support Ezdan as its funding sources evolve in order to support their growing investment portfolio and other activities,” Dentons Middle East senior partner, Neil Cuthbert, said.

“We are very pleased to continue to represent Ezdan Holding Group as they go from strength to strength, year after year. Achieving financial close of this transaction is yet another important milestone for the group,” Dentons Doha Managing Partner, Safwan Moubaydeen, added.

The Dentons team was led by partners Safwan Moubaydeen and Zaher Nammour in Doha and partner Neil Cuthbert and associate Atif Choudhary in Dubai.

Dentons’ leading Middle East Banking and Finance team operates at the industry’s forefront, working with international and local banks and corporates. Their integrated regional team is one of the most experienced and geographically diverse teams in the region, and has the market knowledge and experience to advise, innovate and deliver across a range of areas including: project finance, Islamic finance, capital markets, asset finance, real estate finance, restructuring and insolvency and contractor financing.

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