International law firm Baker & McKenzie has advised Bahrain’s United Steel Co (SULB) on term loan facilities valued at $373 million to fund the construction and operation of a steel plant within the kingdom.

The loan facilities were provided by lenders BNP Paribas and Societe Generale. SULB, an integrated steel sections and beams producer, is a joint venture between Bahrain-based Foulath, a steel investment vehicle and holding company and Japan’s Yamato Kogyo Co, a global sections and beams producer.

"Having grown up in the Kingdom of Bahrain and having personally seen the pelletizing plant and associated steel industry near Hidd develop over the years, I am very pleased to have been involved on this important transaction. The successful closing of this transaction highlights the strength of not only the sponsors but also of the Kingdom of Bahrain in attracting major industrial projects," said Bilal Kahlon, who is the partner leading the team for the firm.

Kahlon was assisted by Bahrain-based associates Sohaila Rahman and Omar Al Ansari. Japanese law aspects of the transaction were handled by the Tokyo office of Baker & McKenzie, which was led by partner Gavin Raftery and associate Yuko Atsumi. ALB

Shaheen Pasha is Middle East Regional Editor at ALB. Follow her on Twitter: @ALB_TheBrief.

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