Banking Law Firm in Lebanon | Abou Jaoude & Associates

The Firm’s recent notable representative experience in Banking includes:

• Advised the international syndicate led by Audi Bank, the largest bank in Lebanon, including major international development finance institutions OPIC and EIB, on the US$300 Million multi-jurisdictional syndicated facility to finance the 200MW utility-scale wind power plant in Lebanon under the first-ever Power Purchase Agreement with the Government of Lebanon.

• Advised on the US$150 Million cross-border syndicated facility led by Deutsche bank to a prominent telecoms group, involving the International Finance Corporation (IFC) as a lender.

• Advised FFA on the first ever conversion of a financial company into an investment bank under Lebanese law.

• Advised leading Lebanese bank IBL on the first-of-its kind US$100 Million issuance of subordinated bonds with a unique interest payment structure in the context of new highly complex capital adequacy regulations to tackle Lebanon’s unprecedented banking crisis.

• Advised the Central Bank of Lebanon and the Special Investigation Commission on first-ever highly complex capital control legislation with critical impact on the national economy amidst Lebanon’s unprecedented financial crisis.

• Advised on the US$200 Million largest multi-business family debt restructuring in Lebanon involving eight banks and a large real estate portfolio.

• Advised the lending arm of the National Bank of Kuwait, the largest Kuwaiti bank and the highest rated in the Middle East, on a multi-million cross-border mezzanine facility to a leading international telecoms group, involving a complex multi-jurisdictional security structure with share pledges, corporate guarantees, personal guarantees and bank account charges.

• Advised First Abu Dhabi Bank, the largest bank in the UAE, on complex collateral structures involving movable assets held abroad in the context of cross-border facilities to major Lebanese companies.

• Advised premier luxury brand Elie Saab on a multi-million cross-border LMA facility and the largest multi-bank refinancing transaction in Lebanon’s fashion retail market.

• Advised largest bank in Egypt Commercial International Bank on a multi-million cross-border facility to Consolidated Contractors Group (CCC), the biggest construction group in the Middle East, involving a complex security structure.

• Advised UK Export Finance (UKEF), the UK’s export credit agency and a ministerial department of the UK government, on a multi-million cross-border facility to the leading MENA construction group Arabian Construction Company (ACC) for the construction of the landmark ministerial city in Cotonou (Republic of Benin), involving a Lebanese entity as an exporter parent and complex Lebanese regulations governing related-party transactions.

• Advised Big Four audit firm Ernst & Young acting for Swiss banks on the Banking Model Manual relating to the cross-border offer of financial products and services into Lebanon under the complex regulations of Lebanon’s Capital Markets Authority.

• Advised BRP Bizzozero & Partners, a leading Swiss expert in banking and financial regulatory compliance, on the Lebanon country manuals for Swiss banks related to the cross-border offer into Lebanon of Credit services, Islamic Finance products and services, and Private Banking services under the complex regulations of Lebanon’s Central  and Capital Markets Authority.

• Advised the Bank for International Settlements (BIS) on highly complex FX and fixed-term deposits transactions with the Central Bank of Lebanon (BDL) governed by the BIS’ global general terms of business for banking customers.

• Advised prominent Saudi bank Banque Saudi Fransi (affiliated with Crédit Agricole Corporate and Investment Bank) on a multi-million cross-border facility to the largest Lebanese aluminum manufacturing group ALUMACO involving a complex collateral structure.

• Advised prominent bank Fransabank on multi-million cross-border bank guarantees to Consolidated Contractors Group (CCC), the biggest construction group in the Middle East, involving a complex analysis of the bank’s obligations to make overseas payments in “fresh” US Dollars amidst Lebanon’s unprecedented financial crisis and its impact on the fluctuation of currency exchange rates.

• Advised on a US$600 Million complex merger of two prominent banks, the Lebanese Canadian Bank Sal (LCB) and Banque Société Générale Sal (SGBL), involving a highly complex regulatory process before the Central Bank of Lebanon, the premature redemption of preferred shares issued by LCB and the liquidation of LCB.

• Advised the leading FMCG BPC Holding Group including 30 multi-sector regional companies on a multi-million cross-border facility from First Abu Dhabi Bank, the largest bank in the UAE, involving a complex security structure.

• Advised leading regional FFA Private Bank Group on the highly complex strategic seat migration to the Dubai International Financial Center (DIFC) based on a five-year strategic plan, involving licensing and regulatory approvals from the Central Bank of Lebanon (BDL) and the Dubai Financial Services Authority (DFSA), and an internal corporate reorganization with multi-tier change of control transactions of the DIFC-based FFA Group Holding, the Dubai-based FFA Private Bank Dubai Ltd and the Beirut-based FFA Private Bank SAL.

• Advised Holding M. Sehnaoui on the acquisition of an equity stake in AstroBank (Cyprus) Ltd from BLC Bank SAL, through a complex structure involving a locked-box mechanism, share swaps, and a complex regulatory approvals process.

• Advised BLC Bank on a US$90 Million cross-border acquisition of Piraeus Bank (Cyprus) Ltd, the eleventh largest bank in Cyprus and one of the four banks listed on the Cyprus Stock Exchange, involving a complex loan restructuring and regulatory approvals from the Central Bank of Cyprus.

• Advised BLC Bank acting as borrower on the procurement of a credit line from the European Investment Bank (EIB) for the financing of small and medium sized projects to be carried out in Lebanon by private sector companies.

• Advised BLC Bank on the restructuring of a credit facility granted to Mika Real Estate Sal (part of the M1 Group), involving the replacement of a single-bank term loan facility with a syndicated facility comprising three banks.

• Advised major telecom group Africell on the reorganization of a loan portfolio with three banks involving new credit facilities of up to US$50 Million, in the context of the consolidation of the group's various operations in Sierra Leone, Gambia and DRC.

• Advised the leading real estate developer Plus Properties Group on a complex multi-million debt restructuring involving four premier banks in Lebanon.

• Advised BLC Bank on the funded risk participation of a US$70 Million term loan facility granted to major real estate developer Park Hill for the acquisition of a plot for the erection of the group's new green headquarters.

• Advised the leading multi-media online platform M. Publishing (Quantum group) on the multi-million private equity investment by prominent LIBANK to support the expansion and diversification of the platform, involving a complex regulatory approvals process under Circular 331 of the Central Bank of Lebanon (BDL) aimed at encouraging investments in Lebanon’s knowledge economy.

• Advised the Lebanese Canadian Bank on four multi-million dollar issuances and private placement of preferred shares.

• Advised BLC Bank and IBL Bank on a critical regulation related to the lifting of banking secrecy on accounts of public employees in Lebanon in light of Law no. 189/2020 on Financial Disclosure and the Punishment of Illicit Enrichment Law and Law no. 44/2015 on Anti-Money Laundering.

• Advised major US investment bank Citadel Securities on cross-border banking activities in Lebanon, namely the latter’s broker-dealer activity (purchase and sale of securities) with U.S persons related to USD-denominated corporate and sovereign debt issued by companies in Lebanon.

• Advised on several acquisitions of equity in banks, financial institutions, investment funds, brokerage firms, and money transfer companies subject to the complex regulations and approval process of the Central Bank of Lebanon (BDL) and the Capital Markets Authority, including for Credit Suisse Lebanon Finance, OMT (Western Union), FFA Private Bank, IBL Bank, Arab Finance Corporation, and The Luxury Fund.