Simmons & Simmons acted in Landmark Private Financing Deal in Saudi Arabia

Simmons & Simmons acted in Landmark Private Financing Deal in Saudi Arabia

Simmons & Simmons, an international law firm, provided legal counsel to Rawabi Holding Group on a monumental private sector financing transaction in Saudi Arabia, valued at $1.91 billion (SR7.17 billion).

The syndicated financing arrangement, in which a consortium of financial institutions collaboratively provides credit through a single source, has been secured by Rawabi Energy, a subsidiary of Rawabi Holding Group.

The highly successful transaction, oversubscribed by 1.33 times the initial order, saw the participation of prominent financial institutions such as HSBC Saudi Arabia, Gulf International Bank, and Gulf International Bank Saudi Arabia, alongside several other institutions based in Saudi Arabia. This significant agreement is anticipated to bolster Rawabi Holding Group by fostering accelerated growth and refinancing its existing debt.

The team from Simmons & Simmons was led by Aditi Sanyal, who is a partner based in the firm's Dubai office.

Commenting on the deal, Aditi Sanyal said: “We are pleased with the pivotal role our team has played in this significant deal for Rawabi. Advising one of the largest ever Saudi private financing agreements is a further demonstration of the strength of the firm’s Financial Markets practice in the Middle East.”