Clifford Chance

Project Finance

• Export credit agencies and commercial lenders in relation to the US$1.615 billion financing of the FPSO Alexandre de Gusmão to be deployed in the Mero field offshore Brazil
• Export credit agencies and commercial lenders in relation to the US$1.63 billion financing of the FPSO Almirante Tamandaré , Brazil’s largest oil producing unit, to be deployed in the Búzios field, world’s biggest deepwater discovery to date
• Export credit agencies in relation to the US$1.6 billion financing of the FPSO Sepetiba to be deployed in the Mero field offshore Brazil
• Saudi Aramco on the development and project financing of a landmark carbon capture and sequestration project in the Middle East
• Yanbu Aramco Sinopec Refining Co and its shareholders (Saudi Aramco and SINOPEC) in connection with refinancing of its US$4.7 billion syndicated conventional and murabaha facilities
• Ministry of Finance, Kingdom of Saudi Arabia in connection with its US$258 million Euler Hermes-covered facility for the King Abdulaziz Transportation Project and US$3 billion K-SURE covered facility – the Hermes-covered facility marked the Kingdom’s first-ever ECA loan and first-ever green loan
• Euler Hermes and the lenders on the Hermes-covered €135 million financing of an integrated agro-industrial project in Egypt, incorporating reclamation and cultivation of land and construction and operation of the world’s largest sugar beet processing plant* Project Finance Deal of the Year 2022, IFLR Middle East Awards; Best Structured Finance Deal in North Africa 2021, EMEA Finance Achievement Awards
• The sponsors, led by TotalEnergies, in connection with the US$20 billion financing by several ECAs (Atradius, ECIC, EXIM Thailand, JBIC, NEXI, SACE, UKEF and US-EXIM) of the development of an LNG Project in Mozambique* Global Multilateral Deal of the Year 2020, PFI Awards
• Export credit agencies (CESCE, K-EXIM and UKEF) and commercial lenders in relation to the ECA-covered and uncovered conventional and Islamic financing tranches for the US$7 billion Duqm Refinery Project* MENA Downstream Oil & Gas Deal of the Year 2018, IJGlobal Awards; Middle East Petrochemical Deal of the Year 2018, PFI Awards; Overall ECA Finance Deal of the Year 2019, TXF Global Awards
• Commercial lenders and Islamic financiers in relation to the US$1.3 billion refinancing of the Al Dur I IWPP existing project financing* Middle East & Africa Refinancing Deal of the Year 2018, PFI Awards and IJGlobal Awards
• Export credit agencies (Atradius, SACE, K-SURE, K-EXIM and UKEF) and commercial lenders in relation to the ECA-covered facilities for Kuwait National Petroleum Company’s US$13 billion Clean Fuels Project, to upgrade the Mina Abdulla and Mina Al Ahmadi refineries in Kuwait
• Export credit agencies and commercial lenders on the US$114 million project financing for the construction of ACWA Power’s 200-MW Kom Ombo Solar Power Plant, the largest private solar plant in Egypt
• Aluminium Bahrain on various ECA-covered facilities (Bpifrance, Euler Hermes and SERV) in connection with the US$3 billion Line 6 Expansion Project, consisting of construction of a sixth reduction pot line utilising a 1,792 MW power station
• Mobily (Etihad Etisalat Company) on the US$2.1 billion refinancing of its existing murabaha facilities

Debt and Equity Capital Markets

• The underwriters in relation to the US$29.4 billion initial public offering (IPO) and listing of Saudi Arabian Oil Company (Saudi Aramco) on Tadawul – the largest IPO of all time*
• The underwriters in relation to the establishment of Saudi Aramco’s Rule 144A / Regulation S global medium term note program on the London Stock Exchange and the issuances of US$12 billion and US$8 billion notes thereunder*
• The underwriters in relation to the issuance of US$2 billion and subsequently US$1 billion notes by the Saudi Basic Industries Corporation (SABIC)* Corporate Bond Deal of the Year 2020 by Bonds, Loans & Sukuk Middle East
• The Oil & Gas Holding Company B.S.C. (nogaholding) with respect to the establishment of its global medium term note program on the Irish Stock Exchange and its debut and subsequent US$1 billion notes issuances thereunder*
• The Kingdom of Saudi Arabia in connection with its debut Rule 144A / Regulation S Sukuk Programme and issuance of US$9 billion Sukuk thereunder*
• TI Fluid Systems plc on its £1.3 billion initial public offering on the London Stock Exchange*
• FMC Technologies Inc., the subsea oil services group, on its US$17 billion merger with Technip SA on the New York Stock Exchange and Euronext Paris*
• RPC Group plc on its £550 million fully-underwritten rights issue on the London Stock Exchange and class 2 acquisition of Letica Corporation*