Ian Siddell

Project Finance - Islamic and Conventional

• Acting as legal counsel for Thakher Development Company (TDC) and Mohammed Alsubeaei & Sons Investment Company (MASIC) (a major shareholder in TDC) in relation to the circa SAR 4.357 billion real estate financing for the purposes of what is expected to be one of the largest mixed-use development project called "Thakher City" in Mecca, Kingdom of Saudi Arabia. This development will be one of the largest mixed-use developments in Saudi Arabia.
• Acting as lenders' legal advisors in relation to a new facility to be provided by Natixis to Meridian Consolidated Investments Limited, a subsidiary of Maaden. This comes as part of the expansion plans of Maaden into the African mining sector and becoming the largest phosphate company on the continent
• Acting for the lender in relation to the unfunded facility to be made available to International Company for Water and Power Projects (ACWA) for the purpose of funding ACWA's further investments into its projects.
• Acting for The Saudi Investment Bank in relation to SAR 150 million murabaha based fund financing for the development of a real estate development project in Riyadh
• Acting for The Saudi Investment Bank in relation to SAR 350 million murabaha based fund financing for the acquisition of certain commercial real estate properties in Riyadh
• Acting as Saudi counsel to Arab Petroleum Investments Corporation (APICORP), The National Commercial Bank and Sumitomo Mitsui Banking Corporation Europe Limited as senior debt lenders to Dammam West Company for Water (the "Project Company") in connection with the development, financing, design, engineering, procurement, manufacture, factory testing, transportation, construction, erection, installation, equipping, completion, testing, commissioning, insurance, ownership, operation, maintenance and transfer of an independent sewage treatment plant in Dammam, Kingdom of Saudi Arabia (the “Project”). Our role as Saudi counsel to the senior lenders involved providing on-going Saudi law advice in relation to both the senior finance and security documents (including structuring, drafting and negotiating the security documents in light of new statutes enacted in KSA) and on the development aspects of the Project (including advice on the evolving regulatory landscape in the Saudi sewage and wastewater sector, Saudi law due diligence and advice on the full suite of project documents including the sewage treatment agreement and EPC contracts and advice on procurement laws, consents and licenses applicable to the Project and the various Project parties and stakeholders).
• Acting as lender’s legal counsel for the lenders to a consortium in relation to financing for the construction and operation (under a BOOT scheme) of a major new sewage treatment plant in Saudi Arabia.
• Acting as lender’s legal counsel for the lenders to a consortium in relation to the financing for the development, design, permitting, engineering, financing procurement, construction, commissioning, testing, completion, ownership, insurance, operation and maintenance and final dismantling and decommissioning of a greenfield seawater RO desalination plant including the development, financing procurement and construction of related transmission lines and a substation.
• Acting for Egypt's first wholly owned Egyptian Bank on a USD 34 million bonding facilities for one of the largest private solar plants in Egypt. We understand that this is the first financing made available from Banque Misr S.A.E. to ACWA and is part of the financing of one of Egypt's largest solar power plants. This private solar plant located in Kom Obmo is less than 20 km from ACWA's existing Benban solar plant, which BM had previously advised the lenders on in 2018. (SEE BELOW)
• Acting as lender's counsel for Arab African International Bank in relation to a US$ 207m financing made available to a large Saudi power and electricity company for Egypt's largest solar power project - the 50MWac solar photovoltaic power plant in BenBan.

• Law of Society of England and Wales - Member