Banking & Finance | Global

In 2023 Clifford Chance became one of the first international law firms to establish a formal presence in Riyadh, establishing a joint venture with its long-term Saudi association partner AS&H. The team is recognised throughout the market as a consistent presence on high-profile syndicated financings, with additional expertise in restructuring and refinancing. It is often seen acting on notable projects in the infrastructure and energy spaces, handling the development as well as finance aspects. The team represents a range of international and regional banking clients, as well as government entities. The firm also has considerable experience in real estate financings.

Centred in Riyadh, independent law firm Khoshaim & Associates is a long-standing player in Saudi Arabia, and its finance group advises on the full gamut of Shari'a-compliant and conventional banking mandates. The firm has an extensive client list comprising top Saudi banks and other well-known global financial institutions in addition to major state-owned entities. The team is often tasked with overseeing project financing, refinancing and banking regulatory matters. Within the latter sphere, the firm also offers a wealth of knowledge in fintech and cryptocurrency.

In March 2023, Latham & Watkins became one of the first global law firms to be granted a foreign law licence by Saudi Arabia's Ministry of Justice, formalising its presence in the Kingdom following a long-standing co-operation agreement with the Law Office of Salman M. Al-Sudairi. The team has extensive expertise in conventional and Islamic financing, consistently handling some of the market's most significant matters. The practice is noted for its frequent guidance on murabaha and ijara structures, as well as its comprehensive knowledge of Islamic project finance and financial restructurings.

Legal Advisors in association with Baker McKenzie is a pre-eminent law firm with offices in both Riyadh and Jeddah. It offers significant experience across the full spectrum of Islamic and conventional financing. The practice is noted for its in-depth knowledge of murabaha and ijarah instruments, and often acts as borrower's counsel, representing major construction clients in project financings and restructurings. It is also well versed in acting for banks. The firm is often highlighted for its close working relationship with the Bahrain office of Baker McKenzie.

White & Case is known for its impressive track record in Saudi, with a long history of involvement in major financing deals. It is regularly active on extremely high-value project finance matters, and offers considerable experience in oil and gas as well as renewables. Its team on the ground in Saudi Arabia often works in tandem with White & Case offices in the UAE and further afield.

Alshahrani Law Firm in connection with DLA Piper has a notable banking and finance practice with deep market experience. The firm often advises on project finance and restructuring mandates, working closely with numerous banks and financial institutions. It leverages the considerable regional and global footprint of DLA Piper to advise clients on the full gamut of issues, including regulatory mandates.

King & Spalding has a well-known finance group based in Riyadh, with a wealth of knowledge in conventional and Islamic financings. The firm regularly acts for big-name Saudi banks. The practice has wide-ranging capabilities, but is increasingly noted for its handling of major bankruptcy and refinancing matters. It is also noted for its significant edge in fund-related financing work, leveraging the considerable footprint of its market-leading Middle East investment funds team. Other significant areas of work include real estate finance.

Linklaters maintains a compact team in Riyadh with pronounced strengths in finance as well as M&A work. The banking and finance group provides frequent counsel to a range of domestic and international banks and financial institutions, as well as assisting several regional corporations with their borrowing needs. The group has experience relating to a wide range of financing transactions, including acquisition and project financing as well as refinancing.

Norton Rose Fulbright PLLC often acts as lenders' counsel on Shari'a-compliant project and real estate financings, with further experience acting for developers and project companies. The team counsels Saudi banks on their lending agreements with borrowers active across a number of sectors and has further experience acting for international banks on Saudi regulatory issues.

Derayah is a prominent independent law firm with offices in both Jeddah and Riyadh. It is well versed in representing international clients and regularly acts as local counsel on cross-border project finance files, with notable expertise in renewable energy and IWP (independent water and power) matters. The team is noted for its deep knowledge of Saudi law and its strong relationships with well-established clients.

Dentons has a compact Saudi banking and finance group composed of individuals based in both Riyadh and Dubai. The firm represents some of the largest banks and financial services clients within the Kingdom, offering considerable expertise in Shari'a-compliant real estate finance, including assisting with the provision of financing to REITs. It is a regular counsel to Shari'a-compliant lenders on murabaha facilities and is also regularly called upon to assist with refinancing arrangements.