Dentons advises Mashreq Bank

Dentons has advised Mashreq Bank psc on a dual conventional and Islamic financing facility to Royal Jordanian Airlines, the national airline of Jordan.The syndicate was made up of seven banks based in UAE, Qatar and Jordan with Mashreqbank psc acting as sole Bookrunner and also as Mandated Lead Arranger, along with Al Khalij Commercial Bank (Al Khalij) Q.S.C, Arab Bank plc, Dubai Islamic Bank PJSC, and The Commercial Bank (Q.S.C.). The transaction encompassed a conventional tranche and an Islamic tranche, based on a wakala arrangement, with all financiers sharing in common security.

Middle East Senior partner, Neil Cuthbert commented, "We are delighted to have assisted Mashreqbank and the other financiers with structuring and documenting this complex transaction."

The Dentons team was led by finance partner Neil Cuthbert, with assistance from senior associate Jane Flournoy in Dubai and in Jordan by Amman managing partner Safwan Moubaydeen, with assistance from senior associate Saliba Sunna.