Dentons advises Mashreqbank

Dentons advised Mashreqbank psc on the coordination of USD88 million club contracting finance facilities for the engineering, procurement and construction of a petrochemical production facility located in Fahud and Sohar in the Sultanate of Oman (LIWA). The facilities were used to finance the bonding of Tecnimont S.p.A for the construction work.

Mashreqbank acted as the sole book runner, mandated lead arranger and co-ordinator. Although Mashreqbank has previously supported Tecnimont S.p.A on other projects in the region, the LIWA represents the first major project that Mashreqbank has supported Tecnimont S.p.A in Oman. Dentons advised the banks on the structuring of the financing and supporting security requirements, covering the specific bonding requirements relating to the LIWA project construction, and the contract counterparty was Orpic Plastics LLC.

The Dentons team was led by senior partner Neil Cuthbert and associate Annabel Levick, in Dubai, with support from partner Sadaf Buchanan and senior associate Justine Harding in Muscat.