Latham & Watkins advises Etisalat
Latham & Watkins advised Emirates Telecommunications Corporation (“Etisalat”) –as guarantor– and White Falcon Finance Company Limited –as borrower– on a €3.15 billion multicurrency loan facility which will be used to acquire Vivendi SA’s 53 per cent stake in Maroc Telecom.
The multicurrency facilities comprise a 12 month €2.1 billion bridge facility priced at EURIBOR plus 45 basis points for the first six months, 60 basis points for months seven through nine and 75 basis points for months 10 through 12, and a three year €1.05 billion term facility priced at EURIBOR plus 87 basis points.
A group of 17 international and local banks were appointed as Mandated Lead Arrangers – Abu Dhabi Commercial Bank PJSC, Bank of America Merrill Lynch International Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas Fortis SA/NV, Crédit Agricole Corporate and Investment Bank, Deutsche Bank Luxembourg S.A., Emirates NBD PJSC, First Gulf Bank PJSC, Goldman Sachs Bank USA, HSBC Bank plc, ING Bank N.V., Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., Natixis, National Bank of Abu Dhabi PJSC, The Royal Bank of Scotland plc and Sumitomo Mitsui Banking Corporation.
HSBC Bank plc also acted as Facility Agent.
The Latham & Watkins team spanned the firm’s Abu Dhabi, Doha and Dubai offices and was led by partner Anthony Pallett with associates Christian Adams, Derek McKinley and Heba Al-Shakarchi.
