We are advising Sadara Chemical Company in connection with (i) several loan facilities that are provided, insured or guaranteed by ECAs and (ii) loan facilities provided by commercial banks for the development of one of the world’s largest integrated performance chemicals and plastics complex, at an estimated total cost of USD19.3. The total senior debt for the project is estimated to be US$12.6 billion (including the above mentioned Sukuk). The ECA financing includes a US$4.975 billion direct loan to Sadara from the Export-Import Bank of the United States (US Ex-Im Bank), which will be the largest loan made by US Exim to date.

We advised Sadara and Dow on the issuance of a US$2 billion Sukuk as part of the financing for the development of one of the world’s largest integrated performance chemicals and plastics complex, at an estimated total cost of US$19.3. This is only the second project Sukuk to be issued in Saudi Arabia and the largest public Sukuk overall.

Value: US$2 billion |Closed: April 2013

We are advising RAWEC, the existing utility provider to the Petro-Rabigh petrochemicals complex, in connection with its financing of the expansion of the utilities to the $10 billion second-phase expansion of the petrochemicals complex.

Value: Confidential, but press reports estimate at US$ 10 billion | Closing 3rd Quarter 2013

We assisted the China Development Bank Corporation and Sinosure in connection with the financing of buses exported by a Chinese supplier under a commercial contract to a Saudi borrower/importer.  

Value: US$112 million | Closed: December 2012

We represented Sadara Chemical Company and Dow in connection with a bridge financing from the Saudi Arabian Public Investment Fund. This was the first bridge financing provided by the Public Investment Fund.

Value: Confidential (press reports have referred to a US$2bilion loan) | Closed: 2nd Quarter of 2012

We represented ACWA Power in connection with its bidding, developing and financing of a build-own-operate basis the 3,927MW independent power project (IPP) in Qurayyah. Financing was being provided by local and international banks as well as three ECA’s. This is the world’s largest independent power project. Qurayyah IPP was awarded Middle East Power Deal of the Year 2011 by Project Finance Magazine, and Best Project Finance Deal of the Year by Euromoney Islamic Finance Awards 2012.

Value: US$2.85 billion | Closing: 2nd quarter 2012

We represented three borrowers (Saudi Acrylic Acid Company, Saudi Acrylic Polymers Company and Saudi Acrylic Monomers Company) in connection with the financing for three petrochemicals projects being developed by four companies being the local petrochemicals firms Tasnee and Sahara, Rohm and Haas from the US and Germany’s Evonik Industries. The financing was structured so that lenders make one commitment to the three borrower companies, which is split between them based on the size of their overall project cost.

Value: US$1.2 billion | Closed: 2nd Quarter 2012

We represented Banque Saudi Fransi in connection with a Multipurpose Import Facility to Shuaibah Water and Electricity Company. The obligations of Shuaibah Water and Electricity Company in the Multipurpose Import Facility had to be in accordance with its existing project finance obligations.

Value: Confidential | Closed: 1st Quarter 2012

We assisted Shoaibah Water and Electricity Company in the repayment of Equity Bridge Loan, capital increase and implementing of share pledge.

Value: Confidential | Closed February 2012

We advised the lenders, led by JBIC, in connection with a bid by one of the consortia for the SEC Qurayyah IPP with a capacity of 1,800 - 2,100 MW.

Value: Confidential | Closing: 4th Quarter 2011

Represented Saudi Acrylic Acid Company and Saudi Acrylic Monomers Company in connection with an Islamic bridge finance to secure funding prior to finalizing complicated project financing (we also advised on the project financing as set out in the project finance submission).

Value: SR 2 billion | Closed 2nd quarter 2011

We represented a Saudi Bank in connection with a subordinated Murabah facility guaranteed by one of the borrower's shareholders. Both guarantor and borrower are listed companies.
Value: SR 2 Billion | Closed: March 2011
We advised the lenders to Saudi Arabian Airlines in connection with a loan for the purchase of 4 Falcon FX aircraft.
Value: US$203 million | Closed: April 2008
We advised the lenders to Saudi Arabian Airlines in connection with a loan for its early retirement plan in connection with the restructuring of the airline prior to privatization.
Value: US$267 million | Closed: March 2007
We advised the mandated lead managers in connection with the Islamic financing (musharakah and ijara) for the Al Waha petrochemical complex consisting of propylene and polypropylene plants owned by Sahara petrochemical and Basell, which was named Islamic Deal of the Year 2006 by Project Finance Magazine and Middle East Project Finance Deal of the Year 2007 by the IFLR.
Value: US$503 million | Closed: December 2006
We advised the mandated lead arrangers in connection with a US$500 million syndicated murabaha (Islamic) facility to Al-Rajhi Bank. This was Al-Rajhi Bank's debut syndicated murabaha facility.
Value: US$500 million| Closed: April 2006
We advised the lenders to Saudi Arabian Airlines in connection with a loan for the purchase of 15 Embraer 170 regional aircraft.
Value: US$480 million | Closed: June 2005
We represented the lenders in an ECA financing for the expansion of Saudi Iron and Steel Company ("Hadeed"), a SABIC subsidiary worth 352 million. The ECA's included were SACE, Hermes and OeKB.
Value: US$352 million | Closed: March 2005
We advised the first Saudi Arabian private sector telecommunications operator, the Etisalat Consortium, in connection with the financing of its licensing and setting-up costs, the biggest Islamic finance transaction until then.
Value: US$2.35 billion | Closed: October 2004


Chambers Global 2018

  " Clients regard the team as a "strong name in the market" and praise its "good, clear advice." Sources also note the team's "good knowledge of the Saudi market.""
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IFLR 1000, 2018 edition


“I have used Hatem for many years and they are excellent. Always trying to find solutions for the client, deep experience of the market and good reactivity to requests.”

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  European Legal 500,
2018 edition

The team at Hatem Abbas Ghazzawi & Co., which includes Asad Abedi, Ali Abedi and Andreas Haberbeck, specialises in advising clients on joint ventures and restructuring matters. Recent highlights include assisting The Dow Chemical Company with obtaining the first licence for a wholly foreign-owned trading company in Saudi Arabia. ;
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      saudilegal 2018