Trowers & Hamlins advises Mizuho on US$72 million refinancing of Al Hidd Water and Power Project
International law firm Trowers & Hamlins were engaged as lead counsel to advise the finance parties in relation to the successful refinancing of the US$72 million term loan facility made available to Malakoff International Limited (MIL), a Cayman incorporated subsidiary of Malakoff Corporation Berhad (MCB).
Proceeds of the facility were utilised by MIL to refinance certain debt obligations incurred in relation to the acquisition of equity interests in Hidd Power Company B.S.C. (c), which is responsible for the procurement of a c. 900MW power generation and c. 400 MGID water desalination plant located in Al Hidd, Bahrain.
Partner Elias Moubarak, who led the transaction commented,
"We congratulate the finance parties and Malakoff on closing this transaction despite the challenging conditions brought about by the Covid-19 pandemic. Our teams in Kuala Lumpur and the Middle East (including Bahrain) are proud to have been able to provide a seamless service to our clients in order to support them in achieving their objectives on this complex cross border transaction."
The Trowers & Hamlins team in Kuala Lumpur advising on the transaction was led by partner Elias Moubarak with support from associates, Nicol Ong and Leanda Arul.