Hogan Lovells advises banks on AED2bn facility made available to GEMS Education
Hogan Lovells has advised Mashreqbank and a syndicate of Islamic and conventional banks on an AED2bn (£350m) Islamic and conventional facility made available to GEMS Education, a UAE-based education provider.
Abu Dhabi Islamic Bank, Dubai Islamic Bank, Mashreqbank and Noor Islamic Bank have acted as arrangers and book runners for the financing, with United Arab Bank acting as a participant bank.
The facility has a tenor of six years and includes conventional, two Murabaha and a Musharaka tranche. The proceeds from the financing will be applied by GEMS primarily towards the refinancing of GEMS’ investment in the development of schools over the last three years but will also provide additional funds for investment in new schools in the UAE and wider MENA region.
Hogan Lovells’ Dubai-based team was led by banking and finance partner Rustum Shah and supported by senior associate Claire Matheson Kirton, associate Victoria Mesquita, senior associate Faraz Naqvi and trainee solicitor James Clarke. GEMS Education was advised by Allen & Overy.
News from Hogan Lovells
News from The Lawyer
Briefings from Hogan Lovells
With increasing internet penetration throughout the country, the e-commerce industry, like other industries in China, is growing at a swift pace.
A tribunal decision that required a committed Christian to work on a Sunday on an occasional basis in accordance with her contract of employment did not discriminate against her.
Analysis from The Lawyer
The Lawyer’s latest Top 50 litigation firms list shows that business for dispute specialists is roaring along while new in-depth detail reveals the winning strategies
The Russian legal market faces a new era as the government opens the door to greater business transparency, but not everything is open to scrutiny