Bracewell’s Project Finance Excellence Honored at IJGlobal Awards 2023 – MENA

DUBAI AND LONDON – Bracewell LLP advised on two market-leading transactions that were named winners at the annual IJGlobal Awards 2023 for the Middle East and North Africa (MENA), which honor greenfield infrastructure and energy achievements in the project finance industry.

Al Ansar Hospital won PPP Deal of the Year. This landmark project comprises the development, operation and maintenance of a 244-bed public emergency hospital in Madinah, Saudi Arabia. The facility will improve healthcare services for the residents of Madinah, as well as for pilgrims during Hajj and Umrah. The Bracewell team – led by Tom Swarbrick, Oliver Irwin, Tom Jamieson and Andrej Kormuth – advised the lending group of Alinma Bank, Riyad Bank and Natixis Corporate & Investment Banking. The developers of the project are Tamasuk and Alghanim International.

The firm also advised two client groups in relation to the PPP to develop 10 residential communities for the NEOM giga project by the Public Investment Fund, which won the IJGlobal Alternative Infrastructure Award. Swarbrick, Kormuth and Irwin led the team advising Alinma, Riyad Bank, Banque Saudi Fransi and the National Infrastructure Fund, providing debt finance to a developer consortium led by Tamasuk related to two communities. In addition, Jamieson advised SABB/HSBC, Alinma Bank and Riyad Bank, which lent to Nesma to develop two additional communities.

The IJGlobal Awards celebrate excellence and recognize the best energy, infrastructure and project finance deals and firms over the past year. IJGlobal is the leading online database of infrastructure and project finance transactions and assets.