US$800 million sustainability linked revolving credit and term facilities to AAA Oils & Fats Pte. Ltd. and Apical Middle East FZCO and US$72.5 million Murabaha facility to Apical Middle East FZCO
Allen & Gledhill, as transaction counsel, advised Apical Middle East FZCO (“Apical”) and AAA Oils & Fats Pte. Ltd. (“AAA Oils & Fats”) on the up to US$800 million sustainability linked revolving credit and term facilities (“Facilities”) granted by a consortium of lenders.
The Facilities will be used to finance the working capital and general corporate requirements of Apical and AAA Oils & Fats.
Allen & Gledhill, as transaction counsel, also advised Apical on the US$72.5 million Murabaha facility (“Murabaha Facility”) granted by National Bank of Fujairah PSJC.
The Murabaha Facility will be used to finance the working capital and general corporate requirements of Apical. The loan documents in relation to the Murabaha Facility were drafted in accordance with the Accounting and Auditing Origanization for Islamic Financial Institutions Accounting Shariah Standard No. 59 on the Sale of Debt, which is aimed at standardising and harmonising Shariah practices across Islamic Banking Institutions.
Apical and AAA Oils & Fats are part of the Royal Eagle Group, a global integrated, resource-based industrial group, with businesses in paper, palm oil, viscose, construction and energy, property and asset management.
Advising Apical and AAA Oils & Fats was Allen & Gledhill Partner Kok Chee Wai.
