Linklaters have advised as Saudi Arabia has expanded its $10billion international loan to raise $16billion, one of the largest financings in the Middle East to date. Linklaters and Zamakhchary & Co, Linklaters relationship firm in the Kingdom, advised the arrangers on the deal, which introduced a sharia compliant tranche alongside the conventional loan facility.
 
Omar El Sayed at Linklaters, said:

    “The increased size and enhanced terms of the syndicated facilities reflects the global banking community’s recognition of the continued strength of the Saudi economy and belief in the Kingdom’s Vision 2030.”

The Linklaters team was led by Kieron Zaman, Banking partner and Omar El Sayed, Saudi Arabia Head of Banking and Finance. Monaji Zamakhchary, Managing Partner and Martin Creek, partner at Zamakhchary & Co, advised on the Saudi law aspects of the transaction.