Milbank Receives Two “Deal of the Year” Awards at Capital Markets & ESG Finance Awards 2024 for Landmark Project Sukuk Issuance

Milbank LLP received Ground-breaking Deal of the Year and Oil & Gas Finance Deal of the Year at the Capital Markets & ESG Finance Awards 2024, recognizing its outstanding work on landmark project sukuk issuance. The Capital Markets & ESG Finance Awards celebrate innovation and excellence, showcasing pioneering deals across sovereign, corporate, and financial institution issuers and borrowers.

These awards commend Milbank's advisory role in the $1.5 billion first-of-a-kind project sukuk issuance by TMS Issuer S.à r.l (as part of a total $4.5 billion issuance, together with GreenSaif Pipelines BidCo S.à r.l) for the refinancing of bridge facility entered into in connection with GreenSaif’s acquisition of a minority stake in Aramco Gas Pipelines Company, a subsidiary of Saudi Arabian Oil Company.

The Milbank team was led by Global Project, Energy and Infrastructure Finance and Islamic Finance Business Unit partners John Dewar and Munib Hussain, and included associates Bader Thabti and Tom Rhys Jones, as well as New York partner Dan Bartfeld. The Milbank European Leveraged Finance/Capital Markets team was led by partner Apostolos Gkoutzinis and special counsel Joji Ozawa, and included associates Lefteris Dafermos, Dionysis Diamantatos and Rishi Ray. London Tax partner Russell Jacobs and special counsel Andrew Callaghan advised on the tax aspects and New York partner Catherine Leef Martin and associate Megha Kalbag advised on the Investment Company Act and Volcker Rule aspects.

In a recent Islamic Finance News Special Report, John Dewar and Munib Hussain shared insights into the firm’s structuring and implementation of this landmark $1.5 billion project sukuk issuance, marking a significant milestone in the field of Islamic finance.

See all of the 2024 Capital Markets & ESG Finance Award winners.