Global law firms White & Case and Norton Rose Fulbright have advised parties on the successful closure of Qatar Islamic Bank (QIB)’s $1 billion three-year dual-tranche murabaha financing deal.
White & Case advised QIB, while Norton Rose Fulbright provided counsel to a syndicate of banks—HSBC, SMBC, and Standard Chartered—as lead arrangers, bookrunners, and global coordinators.
The transaction attracted interest from regional and international banks, with a total of 15 institutions participating in the syndication. This led to the deal being upsized from $600 million to $1 billion, enabling QIB to widen its investor base.
The White & Case team included Cairo partner Sherief Rashed and Doha local partner Kate Chapman.
Chapman said: “White & Case is one of the most active and experienced international law firms for Islamic finance and this transaction adds to our strong track record—a strategically significant, complex, dual-tranche Islamic financing for QIB that involved 15 banks and also underlines our status as a leading law firm in the Middle East.”
The Norton Rose Fulbright team was led by Dubai partner Aditi Sanyal.
Sanyal said: “By bringing together a strong consortium of regional and international banks, this transaction demonstrates market appetite and reinforces the position of these institutions within the Islamic financing sector. We are proud to have supported the syndicate of banks on this landmark deal, showcasing the depth and sophistication of Islamic financing structures available to institutions across the region.”
Norton Rose Fulbright’s team has been active in the region, having recently advised on the UAE expansion of US biotech company NeOnc as well as the establishment of NuroMENA in the Abu Dhabi Global Market (ADGM) following a $50 million strategic partnership with Quazar Investment.
The team was led by Dubai partner Jonathan Burton, with support from Houston partner Brian Fenske.
Burton said: “The incorporation of NuroMENA marks a significant step forward in advancing innovative therapies for CNS cancers across the MENA region. This transaction also reflects the growing importance of the UAE as a hub for life sciences investment and cross-border clinical development.”
