Shearmans seals first indie Middle East project

Shearman & Sterling has closed the £346m refinancing of Abu Dhabi’s first independent power and water project, Taweelah A2 – a prototype for similar deals in the Middle East.

Shearmans head of project development and finance Nick Buckworth advised Societe Generale, ANZ and other commercial banks on the refinancing. White & Case New York partner Sandy Kritzalis acted for the Abu Dhabi government.

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