Islamic Finance & Banking

• Advising Al Rajhi Capital on a Sharia-compliant transformation transaction using a Murabaha / Wa’ad structure to allow investment in conventional private credit funds.*
• Acting as sole legal counsel to Al Rajhi Capital on multiple FI lending transactions with local and GCC banks.*
• Representation of Deutsche Bank Geneva in relation to multiple high-net-worth margin lending and refinancing transactions.*
• Representation of Deutsche Bank on one of the largest Shariah-compliant financial restructuring in the KSA.*
• Advising an Abu Dhabi investment fund in relation to a margin loan collateralised by shares.*
• Advising a Middle Eastern investment fund in relation to a collar financing and a margin loan.*

Project Finance & Hedging

• Advising the Tourism Development Fund (TDF) and Riyad Bank in a Shariah-compliant financing for Dana Bay Tourism Company in respect of a hotel complex.*
• Representing the hedging banks in relation to the financing of the Dogger Bank offshore wind farm, the world's largest offshore wind farm, which involved a consortium of 29 banks and three export credit agencies.*
• Representing the hedging banks in relation to the financing of the Seagreen offshore wind farm, Scotland's largest offshore wind farm.*
• Advising the hedging banks on the US$2.1 billion financing of the Riyadh PP11 greenfield gasfired independent power project in the Kingdom of Saudi Arabia.*
• Advising the hedging banks on the US$1 billion financing of the Zayed University PPP project in Abu Dhabi (deal was awarded Middle Eastern PPP Deal of the Year 2009 by Project Finance International and Middle East PPP Deal of the Year 2009 by Project Finance Magazine).*

Capital Markets & Sukuk Issuances

• Advising Bank AlJazira as issuer on its Additional Tier 1 Capital Sukuk Programme and SAR 2 billion issuance.*
• Representing Al Khair Capital Saudi Arabia Company as arranger in respect of the SAR 500,000,000 Sukuk Issuance Programme for Aqaseem Factory for Chemicals and Plastics Company.
• Representing Al Khair Capital Saudi Arabia Company as arranger in respect of the SAR 500,000,000 Sukuk Issuance Programme for Rawasi Al Bina Investment Company.*
• Advising a Swiss bank as arranger in relation to the issuance of certain actively managed certificates.*
• Advising on numerous issuances of credit-linked notes issued under various note programmes and programme updates for a number of institutions including DB, CACIB, SG, Unicredit, Morgan Stanley and several major Canadian banks.*
• Drafting secured note programme for a U.S. bank covering fixed-rate and floating-rate, indexlinked, equity-linked, bond-linked and commodity-linked notes.*
• Drafting template pricing supplement for a Latin American bank for use with credit-index linked notes.*
• Advising a French bank in relation to a consent solicitation for the remediation of several series of retail notes and Islamic certificates referencing USD LIBOR / CMS.*

Regulatory & Advisory

• Representing the International Swaps and Derivatives Association, Inc. (ISDA) and providing industry netting opinions in relation to KSA in relation to the ISDA Master Agreement, ISDA/IIFM Tahawwut Master Agreement, following the SAMA and CMA Netting Regulations.*
• Representing the International Capital Markets Association (ICMA) and the International Securities Lending Association (ISLA) and providing industry netting opinions in relation to KSA in relation to the GMRA and GMSLA master agreements, following the SAMA and CMA Netting Regulations.*
• Representing SAMA in relation to the upcoming Rules for Supply Chain Finance.*
• Providing a close-out netting opinion to Nomura in respect of the GMSLA.*
• Advice to GS in relation to KSA law regulatory queries and close-out netting.*
• Advice to JP Morgan in relation to KSA law regulatory queries and close-out netting.*
• Representing a UAE bank in relation to certain Qatari netting and collateral opinions with respect to Islamic master agreement and collateral documentation.*

Derivatives, Repos & Stock Lending

• Representation of Bank Al Bilad in relation to various repo negotiations.*
• Representation of NBK in drafting and implementing its conventional treasury products, including ISDA-based documentation and related hedging structures, followed by the development and implementation of their Shariah-compliant equivalents, including Islamic hedging (Tahawwut).*
• Advice to a UK-based international bank in relation to the failed settlement of GMRA trades of Credit Suisse AT1s and documentation relating to the trading of claims in respect of such AT1s.*
• Representations of several US banks in relation to the negotiation of Pledge GMSLAs and related account control and security documentation.*
• Successfully represented a Hong Kong-based fund in a dispute arising under the terms of a GMRA. The case concerned a failure by the fund’s counterparty to repurchase securities under the GMRA.*
• Representing a Qatari bank in connection with its entry into an Islamic credit default swap with a major U.S. bank.*

Synthetic Securitisation/Green Finance

• Acting for CACIB as arranger on its first-of-its-kind USD 3bn “Green Capital Note” synthetic securitisation of project finance loans, enabling regulatory capital release for green lending. The work received “Global Finance Deal of the Year: Structured Finance” at the American Lawyer Global Legal Awards 2017, “Best Law Firm” at the Environmental Finance Green Bond Awards 2017, and a “Highly Commended – London Office of the Year” ranking at the British Legal Awards 2017. It also formed the centrepiece of the firm’s submission for the Green Bond Awards 2018 (winning Law Firm of the Year) and contributed to Global Capital naming the firm “Best Green/SRI Finance Law Firm” in 2018.*
• Advising EIF in relation to the granting of a EUR 120,000,000 financial guarantee to a Spanish bank for the purposes of obtaining regulatory capital relief on a portfolio of SME loans.*

Securities Class Actions

• Led defense of board of directors of Vectren Corporation in securities class action related to proposed transaction; the district court granted our motion to dismiss this month (In re Vectren Corp. Sec. Litg., 2019 WL 4243193, S.D. Ind. Sept. 6, 2019)*

*Prior to joining Baker Botts