legal guide09.indd - Islamic Finance News
legal guide09.indd - Islamic Finance News
legal guide09.indd - Islamic Finance News
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IN THE CATEGORY OF<br />
<strong>Islamic</strong> Project <strong>Finance</strong><br />
John Dewar<br />
Partner<br />
Email: jdewar@milbank.com<br />
Milbank, Tweed, Hadley & McCloy<br />
10 Gresham Street<br />
London EC2V 7JD<br />
Tel : +44 20 7615 3000<br />
Fax: +44 207 7615 3100<br />
Website: www.milbank.com<br />
Areas of Expertise:<br />
• <strong>Islamic</strong> <strong>Finance</strong><br />
• <strong>Islamic</strong> Project & Asset<br />
<strong>Finance</strong><br />
• <strong>Islamic</strong> Acquisition <strong>Finance</strong><br />
Individual Profile<br />
John has been at the forefront of structuring <strong>Islamic</strong> compliant project<br />
and acquisition financing transactions and is credited with structuring<br />
the Wakalah/Ijarah structure which has been used to finance a<br />
number of projects across the Middle East. He is recommended as a<br />
leading practitioner in the field of <strong>Islamic</strong> finance by the independent<br />
directories Chambers Global, 2009 and Chambers UK, 2009.<br />
<strong>Islamic</strong> <strong>Finance</strong> Deals worked on:<br />
• Advised <strong>Islamic</strong> banks on the US$2.2 billion Shuaibah–3 power<br />
and water desalination project in Saudi Arabia, which included<br />
a US$210 million <strong>Islamic</strong> tranche. The documentation developed<br />
and structured in the Wakalah Ijarah Mawsufah Fi Al Dhimmah<br />
financing has been adopted in the subsequent expansion<br />
financing for Shuqaiq, Marafiq and Shuaibah.<br />
• Advised finance parties, including <strong>Islamic</strong> finance institutions,<br />
on the US$3.5 billion, 2400MW, 79 million gallons-a-day Marafiq<br />
IWPP in Saudi Arabia. This is the largest independent water and<br />
power producer in the world and at US$600 million, has one of<br />
the largest <strong>Islamic</strong> financings in the sector to date. This deal was<br />
named by Project <strong>Finance</strong> International as the “EMEA Power Deal<br />
of the Year” and by Project <strong>Finance</strong> magazine as the “Middle East<br />
IWPP Deal of the Year”.<br />
• Advised finance parties on the structuring and documentation of a<br />
Shariah compliant acquisition financing in the US — incorporating<br />
senior, mezzanine and revolving financing facilities — which was<br />
rated by the Credit Rating Agencies.<br />
Other Offices:<br />
Hong Kong<br />
3007 Alexandra House<br />
18 Chater Road<br />
Central, Hong Kong<br />
Tel : +852 2971 4888<br />
Fax: +852 2840 0792<br />
Singapore<br />
30 Raffles Place<br />
14–00 Chevron House<br />
Singapore 048622<br />
Tel : +65 6428 2400<br />
Fax: +65 6428 2500<br />
Tokyo<br />
21F Midtown Tower<br />
9-7-1 Akasaka, Minato-ku<br />
Tokyo 107-6221, Japan<br />
Tel : +81 3 5410 2801<br />
Fax: +81 3 5410 2891<br />
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