Dubai—Dentons Middle East Banking team has been recognised for the second time this year for advising financial institutions on award-winning transactions in the market, with leading financial publications IFN and emeafinance both acknowledging the team's expertise.

The Firm advised a syndicate of banks on the AED 900 million term and revolving facilities to Aujan Coca Cola Beverages Company, which was awarded Syndicated Deal of the Year at the Islamic Finance News (IFN) Awards. The annual IFN Deals of the Year Awards, held in Dubai this week, recognise ground-breaking Islamic finance transactions and industry leaders.

The Commodity Murabahah was funded by UAE, Saudi and Kuwaiti banks, namely Standard Chartered, Dubai Islamic Bank, First Gulf Bank, Mashreqbank, National Bank of Kuwait and Samba Financial Group. It expanded ACCB’s banking relationships while facilitating the refinancing of existing debt and providing working capital as the company expands its regional business.

Commenting on the award Dentons' Head of Islamic Finance – Middle East, Qasim Aslam, said, "We are delighted to see this significant deal being awarded Syndicated Deal of the Year. The IFN Awards provide well-deserved recognition for the ever-growing number of diverse and exciting deals in the Islamic finance sphere. We are proud of our team's involvement on this award-winning transaction."

The Dentons team was led by Dubai managing partner Udayan Mukherjee, with assistance from senior associate Jane Flournoy, and in Saudi Arabia by Mahmoud Abdel-Baky, of counsel. 

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