Ibrahim Bakhurji
Biography
Overview
Ibrahim Bakhurji is a local partner in the Project Development and Finance group, based in Riyadh with The Law Office of Megren M. Al-Shaalan, with which White & Case practices in cooperation in Saudi Arabia.
Ibrahim's practice focuses on advising sponsors, developers, banks and other financial institutions on the development and financing of large-scale infrastructure and energy projects in the utilities, renewables, oil & gas and petrochemicals sectors. Ibrahim has advised on numerous market-leading projects across the Middle East. His experience includes advising on banking and financial restructuring matters, including Shariah-compliant financing structures, as well as acquisitions, disposals, reorganizations, privatizations and corporate restructurings.
Prior to relocating to Riyadh, Ibrahim was based in London and Abu Dhabi.
Experience
Representation of a syndicate of Saudi Arabian and international lenders in the restructuring of approximately SAR 7.5 billion (US$2 billion) of indebtedness of a Saudi Arabian steel company—the largest non-sovereign debt restructuring in the Kingdom of Saudi Arabia to date.*
Representation of prospective project lenders in respect of the Qurayyah IPP project bid in the Kingdom of Saudi Arabia.*
Representation of the project lenders in relation to the US$205 million debt financing, achieved on a Shari’ah-compliant basis, of an airport terminal project in the Kingdom of Saudi Arabia.*
Representation of a Saudi mobile telecoms licensee in relation to a SAR 1.2 billion Islamic Murabaha facility.*
Representation of the banks and US Ex-Im in relation to the US$2 billion project financing for Dhuruma Electricity Company in connection with Saudi Electricity Company’s 1,730-MW gas-fired independent power project (IPP) Riyadh PP-11.*
Representation of the Dow Chemical Company on the financing and development of the US$20 billion Sadara Petrochemicals project in Saudi Arabia. The financing involved local banks and seven ECAs including K-EXIM, K-sure, Hermes, Coface, US Ex-Im, ECGD and FIEM.*
Representation of the lenders on the development and financing of the Al Dur Phase II IWPP in Bahrain.*
Representation of Masdar and Bee’ah on the development and financing of the pioneering Sharjah Waste-to-Energy Project in Sharjah, UAE.*
Representation of the lenders on the development and financing of the US$870 million, 1.17 GW Sweihan Solar PV IPP near Sweihan in Abu Dhabi. This will be the largest solar PV project in the world.*
Representation of the lenders (including IFC, EBRD, OPEC Fund for International Development, ICBC, CCB and Europe Arab Bank) on the development and financing of the 485 MW Zarqa combined-cycle gas turbine Power Project in Jordan.*
Representation of the lenders on the development of the Salalah IWP desalination plant in Oman.*
Representation of the syndicate of banks and joint bookrunners in connection with Emirates Sembcorp Water & Power Company’s offering of US$400 million 4.450% senior secured bonds due 2035.*
Representation of the initial purchasers on the US$814 million bond offering by ACWA Power Management and Investments One Limited.*
Representation of the lenders to the ACWA Power and Mitsui & Co. consortium developing the Ibri and Sohar 3 IPPs in Oman.*
Representation of the Project Sponsors of Dolphin Energy Limited (DEL) in relation to the US$863 million financing of incremental debt relating to DEL’s existing project financing of its gas pipeline.*
Representation of the lenders to the ACWA Power and Mitsui & Co. consortium developing the Salalah 2 IPP in Oman.*
Representation of the lenders to the Oman Oil Company and LG International consortium for the Musandam IPP in Oman.*
Representation of a prospective project lenders in respect of the Qurrayat IWP project bid in the Sultanate of Oman.*
*includes experience from previous firm.
