Emirates Sembcorp Water & Power Company’s $400 Million Bond Offering


Shearman & Sterling represented the syndicate of banks led by Citigroup and HSBC, as joint global coordinators and joint bookrunners, and DBS Bank, First Abu Dhabi Bank and SMBC Nikko Capital Markets, as joint bookrunners, in connection with Emirates Sembcorp Water & Power Company’s offering of $400 million 4.450% senior secured bonds due 2035.

Emirates Sembcorp Water & Power Company owns a combined cycle power generation and seawater desalination plant in the Emirate of Fujairah and is indirectly owned by Abu Dhabi National Energy Company and the Abu Dhabi Water and Electricity Authority.

The Shearman & Sterling team was led by partners Trevor Ingram (Picture) (London-Capital Markets), Bill McCormack (Singapore-Project Development & Finance) and Robin Bayley (Abu Dhabi-Project Development & Finance); counsel Pawel Szaja (London-Capital Markets); and associates Elena Dzhurova (London-Capital Markets) and Ibrahim Bakhurji (Abu Dhabi-Project Development & Finance).

Other key members of the Shearman & Sterling team included partners Alex Bevan (Abu Dhabi-International Arbitration), Kristen Garry (Washington, DC-Tax) and Philip Urofsky (Washington, DC-Litigation); counsels Gregor Page (London-Project Development & Finance) and Mehran Massih (London-Environmental); and associates Jake Glazeski (New York-Compensation, Governance & ERISA), Eric Grosshandler (New York-Tax) and Jon Weingart (Washington, DC-Litigation).

Involved fees earner: Trevor Ingram – Shearman & Sterling; Pawel Szaja – Shearman & Sterling; Elena Dzhurova – Shearman & Sterling; Bill McCormack – Shearman & Sterling; Robin Bayley – Shearman & Sterling; Ibrahim Bakhurji – Shearman & Sterling; Gregor Page – Shearman & Sterling; Alexander Bevan – Shearman & Sterling; Philip Urofsky – Shearman & Sterling; Jon Weingart – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Eric Grosshandler – Shearman & Sterling; Mehran Massih – Shearman & Sterling; Jake Glazeski – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Citigroup Inc.; DBS Bank; HSBC; Smbc Nikko Capital Markets Limited; First Abu Dhabi Bank PJSC;