White & Case advised on two deals named 'Deal of the Year' by Islamic Finance News magazine, as a third deal was announced as runner-up. The awards recognize the most innovative and complex Islamic structures.
The PT Natrindo Telepon Selular (Axis Indonesia) financing was awarded 'Trade Finance Deal of the Year'. White & Case advised China Development Bank in relation to a US$400 million Sharia compliant facility as part of the overall US$1.2 billion financing, the largest private sector Islamic financing to date in Indonesia and the first Islamic financing supported the China Development Bank.
AK Bars Revolving Syndicated Murabaha financing facility picked up 'Europe Deal of the Year'. The Firm advised AK Bars Bank as it raised US$60 million in the initial syndicated Tawarruq in the Russian Federation to enable the bank to have Sharia compliant funds for anticipated Islamic deals.
The AED2.8 billion (US$762 million) National District Cooling (Tabreed) restructuring transaction was a runner up in the 'Restructuring Deal of the Year' category, a deal on which White & Case advised the Co-ordinating Committee of the banks.