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International law firm Trowers & Hamlins has advised, as UAE legal counsel, the syndicate of banks, led by First Abu Dhabi Bank, HSBC, J.P. Morgan Securities, MUFG Securities EMEA, BNP Paribas, Citigroup Global Markets Limited, Mizuho International plc, Société Générale and Standard Chartered Bank, in relation to the offering of over USD3 billion secured bonds by Abu Dhabi Crude Oil Pipeline LLC. 

Abu Dhabi Crude Oil Pipeline LLC is a wholly owned subsidiary of Abu Dhabi National Oil Company, the state-owned oil company of the Emirate of Abu Dhabi.

The bond was over three times oversubscribed, driven by strong demand from international and regional investors.

Elias Moubarak, partner working on the deal at Trowers & Hamlins said:

"We are proud and privileged to be able to continue to contribute to the success of Abu Dhabi and the UAE by advising on this landmark transaction."

Sultan al-Jaber, CEO of ADNOC added:

“The very attractive pricing and substantial international demand for this offering positively reflects the UAE’s stable investment environment, as well as ADNOC’s new and progressive approach to its long-term financing strategy.”

The firm advised on all UAE law aspects of the transaction.

The Trowers & Hamlins team was led by partners Elias Moubarak and Salman Ahmed and associate Abdelhak El Kinany.