Dentons’ latest deals

Dentons advised the Joint Lead Managers on National Bank of Kuwait's issuance of USD700 million Perpetual Tier 1 Capital Securities, completed on April 9, 2015. The Capital Securities were listed on the Irish Stock Exchange and were offered to sophisticated investors.

 HSBC and Standard Chartered Bank acted as Global Coordinators, and together with Citigroup, National Bank of Abu Dhabi and NBK Capital, as Joint Lead Managers, on the issuance of the Capital Securities. Union National Bank acted as Co-Lead Manager on the transaction.

 Dentons Capital Markets partner, Alex Roussos, commented, "We are proud of our involvement in this very significant transaction for the bank and the region as a whole. The strong momentum that we have seen in our markets in respect of Basel III-compliant instruments in recent months continues apace, which is evidence of the proactive management by financial institutions of their capital base. And regulators continue to show significant willingness to support these efforts".

 The Dentons team was led by Alex Roussos working with Senior Associate Beene Ndulo and Associate Katie Phillips.

Recently, Dentons has advised the Sharqiyah Desalination Company SAOG (SDC) on the expansion and refinancing of the Sur desalination project in Oman. Dentons acted as both international and Omani law counsel. The project cost will be approximately USD200 million and will add an additional 10.6 million imperial gallons per day capacity to the existing plant. The project is a unique world-class solution for Sharqiyah region, which is growing in economic importance and population. The Dentons' team was led by Partners Jon Nash and Udayan Mukherjee.

 Dentons has also advised Ajman Bank on USD155 million Islamic financing facilities made available by a syndicate of banks. The facilities comprise of a dual commodity murabaha and wakala arrangement with a two year lifespan. Noor Bank acted as the arranger and bookrunner for the deal, and along with Emirates Islamic Bank, First Gulf Bank, United Arab Bank and Warba Bank which participated in the facilities. The team was led by Qasim Aslam working with associates Ahmed Choudhry and Atif Choudhary.