Global legal practice Norton Rose Fulbright has advised a syndicate of 13 banks in relation to an unsecured $1.159 billion and Dh1.609 billion ($438 million) syndicated facilities for Majid Al Futtaim Holding (MAF).

The bank group comprised Abu Dhabi Commercial Bank, First Gulf Bank, Barclays Bank, Crédit Agricole Corporate and Investment Bank, Emirates NBD Bank, HSBC Bank Middle East, Standard Chartered Bank, Mashreq Bank, Doha Bank, Union National Bank, National Bank of Kuwait - Dubai Branch, Arab Bank and Samba Financial Group, Dubai Branch.

The facility will be used by MAF, a leading regional developer specialising in the development of shopping malls, entertainment and leisure complexes, to refinance existing debt and for general corporate and working capital purposes of the group.

Matthew Escritt, banking and finance partner, Norton Rose Fulbright, said: “We are pleased to have been involved in this major debt financing for MAF; the second significant transaction on which we have advised involving this leading UAE corporate in as many weeks.”

The Norton Rose Fulbright team was led by partner Matthew Escritt with support from senior associate, Nicholas Robinson.

Allen & Overy advised Majid Al Futtaim Holding. - TradeArabia News Service