Mashal Al-Assaf

Mr. Al-Assaf’s representative experience includes advising:

• 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 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
• Dar Al-Arkan Real Estate Development Company in connection with the issuance of US$400 million Trust Certificates 2026
• The joint bookrunners in relation to a secondary public offering of shares in Saudi Telecom Company (stc)
• solutions by stc in relation to its SAR 3.624 billion IPO and listing on Tadawul
• The Government of the Kingdom of Saudi Arabia in relation to the proposed privatization of the flour milling industry through the sale of four flour milling companies to private investors through a competitive auction process
• Several companies in their potential IPOs on Tadawul in various industries
• A selection of banks and other lenders on a multi-hundred-million US dollar Term B refinancing*
• The banks on a US$220 million term loan financing in relation to the acquisition of Natural Gas-Fired Power Generation Facility*
• The banks and lenders on a US$205 million acquisition financing of midstream onshore oil and gas infrastructure assets*
• A number of banks entering into a US$1 billion partnership to finance an oil and gas project*
• A borrower entering into US$230 million bridge loan and US$275 million permanent financing in relation to the acquisition of natural gas storage and pipeline facilities*
• On several mergers and acquisition transactions in the oil and gas industry*
• A number of oil and gas companies in relation to the formation of joint ventures*
• The Creditors Committee on the financial restructuring of Middle East Specialized Cables Company
• The Creditors Committee in connection with the restructuring of conventional and Islamic loans of Al-Ittefaq Steel Products Company
• Kingdom Holding in connection with various financing arrangements

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

*Matter handled prior to joining the Saudi Firm