Amar N. Meher

Mr. Meher’s experience includes representing:

Restructurings

• The Creditors Committee on the debt restructuring of Azmeel Contracting Company, which at SAR 7.7 billion (circa. US$2.06 billion) is the most unique debt restructuring to date in Saudi Arabia as it utilizes for the first time a perpetual sukuk structure (with a commodity murabaha facility) in connection with a financial restructuring procedure under the Insolvency Law
• The Creditors Committee on the proposed settlement of Saad Trading/Maan Al-Sanea, which at SAR 40 billion (circa. US$10 billion) is the one of the largest and the most high profile debt restructuring in the MENA region, and possibly the world
• The Creditors Committee in relation to the financial restructuring procedure for Ahmad Hamad Al-Gosaibi & Bros. Company and its general partners under the Insolvency Law, which at SAR 32 billion (circa. US$8.3 billion) is one of largest debt restructuring in the MENA region, and possibly the world
• Arab National Bank in respect of the restructuring of Abraaj (the leading private equity house in the MENA region) in connection with the restructuring of US$1 billion of its financial indebtedness. This deal represents the largest private equity debt restructuring in the MENA region
• Jabal Omar Development Company in connection with the restructuring of SAR 10 billion (circa. US$2.67 billion) of its financial indebtedness. This deal represents the largest debt restructuring for a publicly listed entity in Saudi Arabia
• The Creditors Committee in connection with phase 2 of the restructuring of conventional and Islamic loans of Al-Ittefaq Steel Products Company, a manufacturer of reinforcing bars, which at SAR 7 billion (circa. US$2 billion) is the largest debt restructuring of a corporate entity in Saudi Arabia
• The Creditors Committee on the financial restructuring of Balsharaf - the largest retail, food and confectionary to date in Saudi Arabia
• The Creditors Committee on the financial restructuring of Middle East Specialized Cables Company (a listed entity on Tadawul)
• Joannou & Paraskevaides KSA and Joannou & Parakevaides (Overseas) Ltd on its debt restructuring
• Al-Mojil Group (MMG) on its debt restructuring (a listed entity on Tadawul)
• Abdullatif Alissa Holding Company (the dealership for Nissan in the Kingdom of Saudi Arabia), Carillion (a global construction company in liquidation), Huta Marine (a subsidiary of the Saudi Binladen Group which is responsible for its marine business) and the creditors to ETE Readymix and Hidada Construction Company in connection with both out of court restructurings and court driven restructurings under the Insolvency Law

Debt Financings

• SIG Combibloc Group Holdings on a term loan and revolving credit facilities, concurrent with a EUR1 billion bond offering
• EIG in connection with a US$12.4 billion infrastructure financing for a consortium led by EIG in respect of a lease and lease-back agreement with Saudi Aramco (this is one of the world’s largest energy infrastructure transactions and the largest in the MENA region)
• The syndicate of lenders in connection with a US$2 billion financing for Saudi Basic Industries Corporation (SABIC)
• The syndicate of lenders in connection with a US$2.57 billion financing for Saudi Electricity Company (SEC)
• The syndicate of lenders in connection with a US$500 million financing for Sadara Chemical Company which was guaranteed by Saudi Aramco and Dow Chemical
• The European Bank for Reconstruction and Development (EBRD) in connection with a US$114 million financing for a ACWA Power in respect of the construction of the largest private solar plant in Egypt
• The syndicate of lenders in connection with a SAR 9 billion (circa. US$2.4 billion) financing for Saudi Electricity Company (SEC) (which was the largest corporate financing in 2020 in Saudi Arabia)
• Mobily in connection with refinancing SAR 7,888,750,000 (circa. US$2.1 billion) murabaha facilities made available to with a group of Saudi banks (The National Commercial Bank, Banque Saudi Fransi, Samba Financial Group, Saudi British Bank, Riyad Bank and Al-Rajhi Bank) (which was the largest corporate financing in 2019 in Saudi Arabia)
• Alinma Bank in connection with a SAR 3.6 billion (circa. US$1 billion) Islamic financing advanced by to the Jeddah Economic City Real Estate fund in connection with the construction of the tallest tower in the world – Jeddah Tower - in Jeddah Economic City
• A subsidiary of the Al Hokair Group of Companies in connection with a SAR 1.97 billion (circa. US$525 million) financing with respect to financing the construction of the largest mall in Riyadh, the Mall of Arabia
• A subsidiary of the Al Hokair Group of Companies in connection with a SAR 1.6 billion (circa. US$427 million) financing with respect to financing the construction of the largest mall in Jeddah
• Takween Advanced Industries on a SAR 1.3 billion murabaha financing in connection with the acquisition of Savola Packaging Company
• JP Morgan, Samba Financial Group and Saudi British Bank, as mandated lead arrangers, in connection with a SAR 3.2 billion murabaha financing for The National Shipping Company of Saudi Arabia (Bahri)
• The Saudi British Bank in connection with various receivables financing arrangements most notably involving the Saudi Binladin Group
• Al Rajhi Bank in connection with various real estate based financings
• The Saudi National Bank in connection with various real estate based financings
• Riyad Bank in connection with various project financings

In addition to these milestone debt restructurings and financings, Mr. Meher has acted on numerous milestone conventional and Islamic facilities for various high profile publicly listed and non-publicly listed clients, i.e. National Industrialization Co. (TASNEE), Etihad Etisalat Company (Mobily), Saudi Electricity Company (SEC), Saudi Basic Industries Corporation (SABIC) and all the leading banks and financial institutions in Saudi Arabia.

Shari’ah-complaint Structured Products

• Al Rajhi Bank, Banque Saudi Fransi, The Saudi Investment Bank and The Saudi National Bank in connection with the establishment of their respective derivatives platform
• Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs, JPMorgan, and others on a number of structured financings, such as margin lending transactions, stock lending,  repo transactions, and derivative products in Saudi Arabia
• Umm Al-Qura Development & Construction Co. in connection with the establishment of a SAR 3,250,000,000 (circa. US$870 million) real estate investment fund
• SNB Capital on the establishment of its REIT
• Saudi Fransi Capital on the establishment of the Bonyan REIT
• Samba Capital, Swicorp and others on a number of confidential REITs