Dubai—Dentons' Banking and Finance team has advised on two award-winning deals in the Islamic Finance News (IFN) Deals of the Year Awards, announced last night at the awards ceremony at Address Sky View, Dubai. These awards recognize excellence, achievement and leadership in the Islamic finance industry.

The three award-winning categories in which Dentons has won accolades are:

• Corporate Finance Deal of the Year and Syndicated Finance Deal of the Year awarded to Lulu International Holdings' AED 10 billion syndicated financing, arranged by Abu Dhabi Commercial Bank, Emirates NBD Capital, Dubai Islamic Bank and Mashreq bank. Dentons advised the syndicate of financiers on one of the largest syndications for retail operators in the region. The team was led by Partner Stephen Knight (Abu Dhabi), Counsel Jane Flournoy (Dubai) and Associate Bayan Jafari-Eshaiker (Dubai), with:
  • Oman law support from Partner Sadaf Buchanan and Associate Shireen Al Busaidi;
  • Saudi law support from Partner Umera Ali, Consultant Malaika Jooma and Associate Hasan Alkoofi;
  • Qatar law support from Partner Zaher Nammour and Paralegal Dorina Drowniak;
  • hedging specialist support from Partner Matthew Sapte and Associate Andrew Gallagher; and
  • wider transaction support from Trainees Hamad Yasin and Fatma Rajab.

• IFN Hybrid Deal of the Year awarded to Energy Development Oman's US$1 billion hybrid Ijarah-Tawarruq Sukuk, which was AAOIFI 59-compliant and received strong demand from investors in the UAE. Dentons advised Energy Development Oman as Oman local counsel. The team was led by partner Sadaf Buchanan (Muscat).

Commenting on the awards, Abu Dhabi-based Partner and co-head of the Middle East Banking and Finance practice Stephen Knight said: "We are thrilled to have supported our clients on these key transactions across our offices in Abu Dhabi, Dubai, Oman, Qatar and Saudi Arabia and to continue to be recognized in the market for our groundbreaking work in the Islamic finance space. Congratulations to everyone involved in these matters!"

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