BASEL B. BARAKAT

bbarakat@mahassni.com.sa
Tel: +9662 665 4353
Fax: +9662 669 2996
P.O. Box 2256, Jeddah - 21451,
Kingdom of Saudi Arabia

PRACTICE AREAS

ISLAMIC FINANCE, PROJECT FINANCE, BANKING TRANSACTIONS

REPRESENTATIVE TRANSACTIONS

PROJECT FINANCE

• Counsel to the sponsors in connection with the US$ 2,500,000,000 project financing arrangement relating to the Shuaibah III IWPP, Saudi Arabia's first independent water and power project. The transaction was awarded "Power and Water Deal of the Year 2005" by Euromoney Project Finance Magazine.

• Counsel to the lenders in connection with the US$ 450,000,000 Shari'ah-compliant project financing arrangement for Red Sea Gateway Terminal Company's third container terminal at Jeddah Islamic Port, the first private greenfield build-operate-transfer container terminal project in Saudi Arabia. The transaction was awarded "Middle East Transport (Maritime) Deal of the Year 2007" by Euromoney Project Finance Magazine and "Best Ijara Deal of the Year 2007" and "Best Project Finance Deal of the Year 2007" by Islamic Finance News.

• Counsel to the project company in connection with the US$ 205,000,000 project financing arrangement for the Hajj Terminal Complex at King Abdulaziz International Airport, Jeddah, Saudi Arabia, the first Shari'ah-compliant build-transfer-operate transaction of its kind in the Middle East. The transaction was awarded "Middle East Islamic Infrastructure Deal of the Year 2007" by Euromoney Project Finance Magazine.

• Counsel to the sponsors in connection with the US$ 2,500,000,000 project financing arrangement relating to the Rabigh IPP, Saudi Electricity Company's first independent power project. The transaction was awarded "Middle East Power Deal of the Year 2009" by Euromoney Project Finance Magazine and "Middle Eastern Power Deal of the Year 2009" by Project Finance International and was also recognized as one of the "Top 10 Deals of the Year 2009" in Islamic Finance Asia's Groundbreaker Awards.

• Counsel to the sponsors in connection with the US$ 2,000,000,000 project financing arrangement relating to the Shuqaiq II IWPP, Saudi Arabia's second independent water and power project.

• Counsel to the sponsors in connection with the US$ 238,000,000 project financing arrangement relating to the Shuaibah III desalination expansion project.

• Counsel to a group of Middle Eastern and European banks in connection with the SAR 1,700,000,000 (US$ 458,000,000) project financing and refinancing arrangement relating to the construction of a 400,000 tonnes per annum propylene and polypropylene manufacturing complex in Yanbu, Saudi Arabia, by National Petrochemical Industrial Company (NATPET).

• Counsel to the lenders in connection with the multi-billion dollar project financing arrangement relating to the Qurayyah IPP, Saudi Electricity Company's third independent power project.

ISLAMIC FINANCE

• Counsel to a major Saudi Arabian contractor in connection with the SAR 2,975,000,000 (US$ 790,000,000) Shari'ah-compliant financing arrangement relating to its expansion works for the Mosque of the Prophet Mohammed in Medinah, Saudi Arabia , Islam's second most revered place of worship, entered into with a group of Middle Eastern financial institutions. 

• Counsel to a major Saudi Arabian contractor in connection with a SAR 1,500,000,000 (US$ 400,000,000) Shari'ah-compliant financing arrangement relating to its expansion works for the Jamarat Bridge, a major bridge used by pilgrims to Mecca, Saudi Arabia , entered into with several Middle Eastern financial institutions.

• Counsel to two major Saudi Arabian financial institutions in connection with a SAR 560,000,000 (US$ 149,000,000) Shari'ah-compliant (Murabaha) agreement entered into with a leading Saudi Arabian company.

• Counsel to a major Saudi Arabian company in connection with a US$ 90,000,000 Shari'ah-compliant (Musharakah) financing arrangement for the acquisition of vehicles entered into with a group of Middle Eastern and European financial institutions.

• Counsel to a major Middle Eastern financial institution in connection with a US$ 25,000,000 Shari'ah-compliant (Murabaha) agreement entered into with a leading Saudi Arabian steel manufacturer.

• Counsel to a major Middle Eastern financial institution in connection with a US$ 20,000,000 Shari'ah-compliant (Murabaha) agreement entered into with a leading Saudi Arabian medical services provider.

• Counsel to a major Saudi Arabian company in connection a SAR 937,500,000 (US$ 250,000,000) Shari'ah-compliant (Murabaha) financing arrangement entered into with a leading Saudi Arabian bank.

• Counsel to a major Saudi Arabian contractor in connection with a SAR 3,200,000,000 (US$ 850,000,000) Shari'ah-compliant financing arrangement relating to its construction works for King Abdullah University of Science and Technology in Thuwal, Saudi Arabia .

• Counsel to a major Saudi Arabian contractor in connection with a SAR 3,726,000,000 (US$ 993,000,000) Shari'ah-compliant financing arrangement relating to its construction works for King Saud Bin Abdulaziz University for Health Sciences at three sites in Riyadh, Jeddah and Al-Ahsa, Saudi Arabia .

• Counsel to a major Saudi Arabian contractor in connection with a SAR 4,750,000,000 (US$ 1,260,000,000) Shari'ah-compliant financing arrangement relating to its construction works for Princess Noura Bint Abdulrahman University for Women in Riyadh, Saudi Arabia .

• Counsel to a major Saudi Arabian contractor in connection with the SAR 5,500,000,000 (US$ 1,466,666,666) Shari'ah-compliant financing arrangement relating to the construction works for King Abdullah Financial District in Riyadh, Saudi Arabia.

• Counsel to a major Saudi Arabian contractor in connection with a SAR 8,500,000,000 (US$ 2,266,666,666) Shari'ah-compliant financing arrangement relating to the major works for the development of King Abdulaziz International Airport in Jeddah, Saudi Arabia.
  

OTHER BANKING TRANSACTIONS

• Counsel to a leading Saudi Arabian contractor in connection with a US$ 160,000,000 multi-currency term loan and letter of credit facility agreement relating to its construction works for a major high-rise residential and business complex entered into with several Middle Eastern financial institutions.

• Counsel to a major Saudi Arabian bank in connection with a SAR 700,000,000 (US$ 186,000,000) multi-option facilities agreement entered into with a major Saudi Arabian company.

• Counsel to a major Middle Eastern bank in connection with a US$ 125,000,000 facility provided to a leading Saudi Arabian company.

• Counsel to three European banks in connection with loan facilities in the aggregate amount of US$ 147,000,000 extended to the offshore affiliates of a leading Saudi Arabian maritime company and the corporate guarantees relating thereto.

• Counsel to a major Middle Eastern bank in connection with a US$ 60,000,000 letter of credit facility agreement entered into with a leading Saudi Arabian company.

• Counsel to a leading Saudi Arabian contractor in connection with a SAR 450,000,000 (US$ 120,000,000) multiple facilities agreement entered into with several major Saudi Arabian banks in relation to its expansion works for the airfield facilities at King Abdulaziz International Airport in Jeddah , Saudi Arabia .

AWARDS AND RECOGNITION

Recognized as a leading lawyer by IFLR1000: Guide to the World's Leading Financial Law Firms (2008 - 2012)

Recognized as a leading banking & finance lawyer by Chambers Global: The World's Leading Lawyers for Business (2009 - 2012)

Recognized as a leading corporate & commercial lawyer by Chambers Global: The World's Leading Lawyers for Business (2010 - 2012)

Recognized by The Legal 500: Europe, Middle East and Africa (2009 - 2011)

Endorsed as a finance lawyer by PLC Which Lawyer? (2009 - 2012)

Recognized as an expert in banking and finance, projects and energy and corporate and M&A by Legal Experts - Europe, Middle East and Africa (2011 - 2012)

Recommended as a banking & finance expert by Global Law Experts (2012)

Basel B. Barakat was recently selected by his peers for inclusion in The Best Lawyers International @ 2012 in the fields of corporate, finance and project finance and development

BARS AND COURTS

Admitted to the New York State Bar

EDUCATION

B.A., High Distinction, University of Michigan , Dearborn , Michigan

J.D., Cum Laude, University of Notre Dame Law School , Notre Dame, Indiana

LL.M., Taxation, New York University School of Law, New York , New York

CITIZENSHIP

United States

LANGUAGES

English, Arabic