"Good. They were cooperative to work with," is one competitor's view of the team at Qays H Zu'bi....
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"Good. They were cooperative to work with," is one competitor's view of the team at Qays H Zu'bi. Head of practice, the firm's founder and son of Hatim S Zu'bi, Qays is well regarded by the market. His firm are is supplemented well by local western talent such as Grahame Nelson, who is recommended by peers.
In August 2010 Nelson counselled a syndicate of lenders, lead by Liquidity Management Centre, in restructuring a $100 million wakala (agency contract) facility and a security swap that had been afforded to a large Bahrain based investment bank. The firm also acted as Bahrain counsel to Standard Chartered in connection with a $75 million mezzanine investment in Jawad Business Group in January 2011.
Capital markets have been quiet for some time in the country apart from the inaugural issue of Government bonds but in a challenging time for the country, the firm was involved, again as local council, to International Finance Corporation (IFC) in relation to a $125 million subscription for mandatory convertible preference shares in Ahli United Bank and the provision of a $165 million subordinated loan.
The firm also acted for Unicorn Investment Bank in connection with a $200 million convertible murabaha (deferred sale) facility to be treated as tier two capital.
M&A has provided the bulk of activity for the firm. July 2010, lead partner Qays H Zu'bi and Grahame Nelson, closed the $2.5 million acquisition of a substantial stake in a major Bahrain based elevators company for Almoayyed Lifts. The duo also advised Skaugen Petchem Carriers and IM Skaugen on an establishment of a joint venture to operate vessels to transport natural gas; and on the $200 million acquisition of controlling stake by LIA and Tasameem in a private investment bank in Bahrain.
On the projects side, the firm acted for a The Export - Import Bank of Korea, on the financing for the Muharraq Wastewater Treatment Facilities.
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