Walkers advises on Infra Transport Deal of the Year at the Infra Global MENA Awards

We acted as Cayman Islands legal counsel to National Bank of Fujairah on a seven-year financing facility of up to US$300m, provided alongside The Arab Energy Fund (TAEF), to support the continued growth of Stanford Marine and Allianz Marine and Logistics Services. At closing, the facility was recognised as one of the largest secured overnight financing rate (SOFR)-based facilities for the OSV sector in the Middle East. The transaction represents a significant investment in the regional maritime industry and reflects strong market confidence in the sector's long-term prospects

Our team led by partner Ciaran Bohnacker and senior counsel Szymon Durlo, advised on the Cayman Islands aspects of the financing. We worked alongside Stephenson Harwood, which acted as lead counsel.

Commenting on the award, Ciaran said: 'We are delighted to see this transaction receive this recognition at the Infra Global MENA Awards. It highlights the strength of the regional maritime sector and the collaborative efforts of all parties involved. We are proud to have supported National Bank of Fujairah on a landmark financing that demonstrates continued confidence in the Middle East's offshore services industry.'

The award highlights our experience advising lenders, financial institutions and sponsors on complex cross-border asset financings and our continued involvement in many of the Middle East's most significant infrastructure and transport transactions.