Baker McKenzie has acted as legal counsel to a syndicate of lenders on dual currency (EUR and CNH) term loan facilities equivalent to EUR 193,440,000 granted to Asakabank, with Kosta Legal acting as local counsel in Uzbekistan.
Standard Chartered and First Abu Dhabi Bank PJSC acted as coordinators, initial mandated lead arrangers, and bookrunners. The syndicate of lenders comprised a mix of European and Middle Eastern commercial banks and funds.
The transaction was successfully completed on 9 December 2025.
Commenting on the deal, partner Adil Hussain, the Global Head of Islamic finance and Head of Banking & Finance Middle East at Baker McKenzie, said: "This facility will provide Asakabank with enhanced liquidity and financial flexibility to support its growth objectives and strengthen its ability to serve clients in a rapidly evolving market. We are delighted to have worked alongside the syndicate of lenders to deliver a solution that underpins confidence in the region’s banking sector."
The Baker McKenzie team was led by Adil Hussain and Chaya Gupta (Senior Associate), with support from Avni Priyadarshi (Associate).
This transaction underscores Baker McKenzie’s expertise in cross-border financing and its commitment to supporting clients in complex, multi-jurisdictional transactions.