Latham & Watkins Advises on a US$662 Million Qatari Murabaha Facility Refinancing

Firm advises on financing to expand fleet of LNG carriers for Qatari marine company.

July 01, 2013

Latham & Watkins advised Maran Nakilat Co. Ltd., a joint venture between Nakilat and Maran Ventures Inc., in connection with a Shari’ah-compliant Murabaha refinancing agreement for the expansion of Maran Nakilat Co. Ltd.'s fleet of LNG carriers located in Qatar from four vessels to six. As a result of the refinancing, Nakilat also increased its ownership in Maran Nakilat Co. Ltd.. Financing was provided by Barwa Bank and Qatar Islamic Bank. 

The Latham & Watkins finance team was co-led by London partner Matthew Brown and Doha counsel Ahmad Anani with Doha associates Mohsin Iqbal and Omar Maayeh and London associates Alex Cosgrove, Rachel Croft, Tariq Fedda, Robbie McLaren and Augustus Robinson. 

Latham’s Anani commented: “The Sharia’h-compliant murabaha facility was to refinance an existing conventional loan secured by mortgages on LNG vessels and to fund the acquisition of new LNG vessels under construction. The transaction is testament to the region’s commitment to the LNG market and to maintaining its leadership position in the global market.”

Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.