$236 million equivalent syndicated dual currency commodity murabaha facility for Ziraat Participation Bank


Hogan Lovells has advised arrangers on a US$236 million equivalent syndicated dual currency commodity murabaha facility for Ziraat Participation Bank.

The USD and EUR Facility has been structured as a Shari’a-compliant term commodity Murabaha facility and shall be used for general funding purposes. The Facility received a strong response from the bank market with 11 international and regional institutions participating from Europe and MENA. Due to the significant oversubscription, Ziraat Participation Bank increased the initial facility size from US$150 million to US$235.9 million.

HSBC Bank Middle East Limited acted as the facility coordinator and ABC Islamic Bank (Bahrain) took the role of investment agent.

The Hogan Lovells team was led by Rahail Ali (Picture) (Global Head of Islamic Finance & Managing Partner, Dubai), with support from Ahmet Kalafat (Senior Associate, Dubai) and trainee Marjun Parcasio.

Involved fees earner: Rahail Ali – Hogan Lovells; Ahmet Kalafat – Hogan Lovells; Marjun Parcasio – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: ABC International Bank; HSBC Bank Middle East Limited;