Walkers advised Saudi's drilling firm ADES Holding Company (“ADES”), in securing US$3b dual-currency debt facility boosting expansion

ADES has upsized its existing syndicate facility through a standby term tranche of US$2.7 billion and a revolving credit facility tranche of US$300 million.

The significantly upsized syndication will provide ADES with the financial flexibility to capitalise on new potential growth opportunities, including acquisitions and organic growth.

The financial institutions involved included Saudi Awwal Bank, Riyad Bank, Al Rajhi Bank, Arab National Bank, Saudi National Bank, Alinma Bank, Banque Saudi Fransi, Bank AlJazira, Arab Petroleum Investments Corp. (APICORP) and Commercial Bank of Dubai.

Walker's team was led by Ciaran Bohnacker (Partner) and Szymon Durlo (Senior Associate).