Banking & Finance

Banking Law 

The regional Banking and Finance team at MAR Law advises clients—both lenders and borrowers—on a wide range of regional and international finance matters. This includes corporate loans, mezzanine and leveraged finance, structured finance, asset, ship, and aircraft finance, and project finance. They are experienced in reviewing, drafting, and negotiating finance and security documents under UAE law, including onshore security documentation, standard term agreements, and term sheets.

In project finance, the team ensures bankable structuring and proper risk allocation, addressing lender concerns and credit committee requirements. They assist with the structuring of effective and enforceable security packages and frequently collaborate with international counsel on UAE law matters.

The team has acted on major transactions across sectors such as telecom, energy (IPP/IWP), oil and gas, industrial plants, real estate, and logistics, including those financed by Export Credit Agencies (ECAs). They also advise on LMA-based documentation, syndications, intercreditor arrangements, loan transfers, and facility restructurings. Their services include fulfilling conditions precedent to drawdowns and issuing legal opinions, contributing to some of the region’s most significant finance deals.

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Notable Matters Undertaken by our Lawyers

• Advised a project company in the healthcare manufacturing sector on the review and negotiation of finance and security documents for a conventional facility, supported the achievement of financial close, handled amendments to the facility post-closing, and provided continued legal support for both original and amended facilities.
• Acted for a U.S.-based water company in the acquisition and full debt purchase from an existing senior lender consortium and advised on the restructuring of project finance debt related to a major desalination project in Oman with a capacity of approximately 200,000 m³/day.
• Advised on the development and financing of a nationwide telecommunications and fiber optic infrastructure project in Oman, including both phases of development totalling USD 230 million, funded by an international infrastructure investment bank.
• Assisted a refinery project company and its sponsor in connection with a EUR 235 million ECA-backed project finance facility arranged by a consortium of European lenders.
• Acted for the mandated lead arranger and lender syndicate in the restructuring of project finance facilities for a major aluminium rolling mill project in Oman.
• Provided legal advice to a chemicals group and its industrial investment partner on financing facilities obtained by their UAE-based subsidiary from a leading regional bank.
• Acted for an international trade finance institution on the structuring and granting of cross-border trade finance facilities in Oman.
• Advised a consortium of regional and international banks on project finance facilities related to the development of greenfield throughput infrastructure at a major port in southern Oman.
• Served as Omani counsel to a syndicate of local banks in the provision of approximately USD 260 million in project financing for the development of an independent water project (IWP) in Sohar.
• Acted as local counsel to a water project company in relation to project development and a USD 299 million project finance facility for another IWP in Barka.
• Provided local legal support to international financial institutions in connection with a USD 165 million financing facility extended to a regional energy group.

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Islamic Banking 

Along with conventional banking matters, our lawyers are very familiar with Islamic finance transactions and have advised on matters including Islamic  project finance mandates with notable experience in advising on Diminishing Musharaka-cum-Ijarah facilities, Istisna and Musharaka, Mudaraba and structuring of sukuk arrangements amongst other Sharia compliant facilities. We are also experienced in using such structures for legacy and succession planning.

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Notable Matters Undertaken by our Lawyers

• Provided legal counsel on a diminishing Musharaka facility granted to a development company to finance Phase 1 of a large-scale project.
• Assisted a borrower in structuring an Istisna agreement and financing for a project under an Islamic project finance facility based on an Istisna-Musharakah structure, with the facility being provided by an Islamic bank.
• Advised a GCC family business group on legacy and succession planning utilizing an Islamic finance structure.
• Advised a development company on a sukuk offering for a regional project development.
• Assisted an Islamic banking window in restructuring a syndicated Diminishing Musharaka-cum-Ijarah Facility granted to a development company by two Islamic financial institutions.
• Provided legal advice to a project company on a proposed Islamic project finance structure.
• Counselled Islamic lenders on the refinancing of Islamic facilities for the development of an antimony processing facility.
• Advised an investment management group on the establishment of an Islamic fund.
• Provided counsel to an Islamic banking window on the grant of Diminishing Musharaka facilities.