Trowers & Hamlins advises on refinancing of Shuweihat project

International law firm Trowers & Hamlins has acted as United Arab Emirates legal counsel to the lenders and bond underwriters on the USD2.3 billion refinancing of the Shuweihat S2 Independent Water and Power Project (IWPP) in the Emirate of Abu Dhabi, UAE. 

The refinancing comprised USD1.475 billion of long-term facilities from lendersThe refinancing reached financial closing on 6 August 2013. Edmund Sia, partner at Trowers & Hamlins who led the firm’s team on the deal, commented, “This project refinancing represents the first bond issuance by an IWPP company in the United Arab Emirates. As this is the first transaction of its kind, there were a number of novel challenges that arose on this deal, but a successful closing was achieved due to the commitment, experience and expertise of all the teams involved. We are delighted to have advised on this pioneering transaction.” 

Trowers & Hamlins’ team, was led by partner Edmund Sia.