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Latham Advises Tamara on Its Upsized US$400 Million Growth Debt Financing

November 16, 2023
London and Dubai team supports leading shopping and payments platform in the Middle East to expand BNPL product.

Latham & Watkins has advised Tamara, a leading shopping and payments platform in Saudi Arabia and the wider Middle East, in relation to an additional up to US$250 million in debt financing, bringing its total receivables warehouse facility to up to US$400 million. The facility consists of an incremental up to US$200 million of senior debt arranged by Goldman Sachs, bringing the total senior warehouse facility to up to US$350 million, plus a further up to US$50 million mezzanine tranche led by Shorooq Partners.

The new financing will support Tamara’s ongoing strong demand for its flagship buy-now-pay-later (BNPL) product and release capital for investments into new products and services.

The Latham team was led by London partner Tom Cochran and Dubai partner Eyad Latif, with counsel Omar Maayeh, London associate Leah Morgan, and Dubai associate Mustafa Darwich.