Sherief Rashed

Partner, Cairo

Biography

Overview

Sherief Rashed is a partner at White & Case and is the Global Head of Islamic Finance Practice Group. Sherief is also part of our Energy, Infrastructure, Project and Asset Finance Group. He is experienced in advising clients on project documents, project development, banking and project finance aspects of complex and cross border transactions including conventional and complex Islamic financing structures. Sherief has worked across the Middle East and until recently was based in the UAE. He has significant experience advising both banks and sponsors on structuring Islamic finance transactions including hybrid Islamic and conventional transaction.

Bars and Courts
New York
The Egyptian Bar Association
Education
LLM
Harvard Law School
LLM
American University
Cairo
LLB
Cairo University
Languages
English
Arabic

Experience

Representation of the project company in connection with the financing (with particular focus on Islamic structuring and documentation) of a greenfield facility powered by renewable energy sourced from wind, solar and battery storage for production and export of green hydrogen to global markets, capable of producing 650 tons per day of carbon-free hydrogen in the form of ammonia. This deal was recognised as "Green Deal of the Year" by Project Finance International 2022, "Project Finance Deal of the Year" by IFLR Middle East Awards 2023, "Structured Loan Deal of the Year" by Bonds, Loans & Sukuk Middle East Awards 2023 and "Structured Finance Deal of the Year" by Capital Markets Saudi Arabia Awards 2022.

Representation of the sponsors, QatarEnergy and Chevron Phillips Chemical Company LLC (CPChem), in connection with the financing for the development and construction of the US$7 billion+ Ras Laffan Petrochemical project, an integrated polymers complex in Ras Laffan Industrial City, Qatar.

Representation of nine regional and local lenders in connection with the SAR6.1 billion Islamic project financing of Advanced Polyolefins Industry Company's new petrochemicals complex located in Jubail Industrial City, the Kingdom. This deal was recognised as "Petrochemicals Deal of the Year" by IJ Global 2022 "Project Finance Loan Deal of the Year" by Capital Markets & ESG Finance Saudi Arabia Awards 2023.

Representation of the lenders in connection with the SAR2.15 billion Islamic project financing for the construction of a new petrochemicals complex in Yanbu, the Kingdom. The complex, which is being developed by Farabi Yanbu Petrochemicals Company, a subsidiary of Farabi Petrochemicals Company, will produce LAB, paraffins and derivative products. This deal has recently been recognised as "MENA Petrochemicals Deal of the Year" by IJ Global.

Representation of ADES Group in connection with the US$1.6 billion hybrid (conventional and Islamic) financing granted to ADES Arabia Holding JSC (a newly incorporated entity and one of the few holding companies incorporated in the Kingdom) and ADES Saudi Limited Company for the refinancing of existing debt and financing recent major acquisitions.

Representation of the commercial lenders, Islamic financiers and Export-Import Bank of the United States on the refinancing of the Riyadh PP11 Project in Saudi Arabia in 2016; and representation of the lenders on the refinancing of the project in 2021. This deal was recognised as "MENA Refinancing Deal of the Year" by IJ Global 2021.

Representation of Carbon Holdings as sponsor on all aspects of the proposed US$11 billion Tahrir Petrochemical Complex, which will be the largest project in Egypt.

Representation of six ECAs and nineteen international and local banks in connection with the project financing (including multiple ECA covered tranches) of the US$6.4 billion LIWA Plastics petrochemical project in Oman. This project was recently recognised as "Middle East and Africa Petrochemical Deal of the Year" by Project Finance International 2016,"MENA Petrochemical Deal of the Year" by IJ Global 2016 and "Project Finance Deal of the Year" by Bonds, Loans & Sukuk Middle East Awards.

Representation of Saudi Aramco in connection with its development of the US$8 billion (including an Islamic tranche) expansion of the Rabigh Petrochemical plant in the Kingdom. This transaction was recognised as "Middle East and Africa Petrochemical Deal of the Year" by Project Finance International 2015.

Representation of Saudi Aramco in connection with the US$20 billion Sadara Chemical Company project (including on the Islamic facility tranche), a joint venture with The Dow Chemical Company in Jubail, the Kingdom. This transaction was recognised as "Project Finance & Infrastructure Deal of the Year" and "Saudi Arabia Deal of the Year" by Islamic Finance News as well as "Middle East Petrochemical Deal of the Year" by Project Finance International.

Representation of the lenders in Dirhams1.32 billion (US$360 million) Islamic Ijara facilities for Gulf Marine Services (GMS) the largest operator and owner of jack-up barges in the Middle East which was the first Islamically-financed syndicated leveraged recapitalization in the UAE.

Representation of the lenders (involving Coface, Hermes and US EXIM) on the US$ multi-billion EMAL Phase II project in Abu Dhabi (including on the islamic facility tranche).

Representation of the arranging banks in connection with the multi-tranche US$420 million leveraged Islamic financing for Zakher Marine International.

Representation of the China Development Bank on the US$1.2 billion Islamic financing for an Indonesian telecommunications company.

Representation of the lenders on the ground-breaking US$1.2 billion financing of Indorama's nitrogenous fertiliser complex in Rivers State, Nigeria, the largest fertiliser plant in Africa.

Awards and Recognition

Leading Individual: Banking & Finance – Egypt

'Sherief Rashed is experienced in project finance and a leading expert in Islamic finance."
Legal 500, 2023

Ranked Lawyer: Banking & Finance and Projects & Energy: Egypt

"Sherief Rashed is an experienced adviser on Shari'a-compliant project finance mandates."
Chambers & Partners, 2023