Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Nov 08, 2017

Shearman & Sterling Represents Initial Purchasers on Abu Dhabi Crude Oil Pipeline LLC’s Inaugural US$3.037 Billion Bond Offering

Shearman & Sterling represented the syndicate of banks led by First Abu Dhabi Bank PJSC, HSBC Bank plc, J.P. Morgan Securities plc and MUFG Securities EMEA plc, as joint global coordinators and joint bookrunners, and BNP Paribas, Citigroup Global Markets Limited, Mizuho International plc, Société Générale and Standard Chartered Bank, as joint lead managers, in connection with the offering of US$837 million aggregate principal amount of 3.650% senior secured bonds due 2029 and US$2.2 billion aggregate principal amount of 4.600% senior secured bonds due 2047 by Abu Dhabi Crude Oil Pipeline LLC (the “Issuer”).

The Issuer owns a pipeline that carries crude oil from an oil collection center in Abu Dhabi to an oil export terminal at a deep water port in Fujairah and is wholly owned by Abu Dhabi National Oil Company, the state-owned oil company of Abu Dhabi and one of the largest oil producers in the world.

The Shearman & Sterling team was led by partner Trevor Ingram; counsel Pawel Szaja; and associate Minkyu Park (all London-Capital Markets).

Other key members of the Shearman & Sterling team included partners Marwan Elaraby (Abu Dhabi-Capital Markets/Mergers & Acquisitions), Matthew Powell (Abu Dhabi-Mergers & Acquisitions), Alex Bevan (Abu Dhabi-International Arbitration), Kristen Garry (Washington, DC-Tax), Iain Goalen (London-Finance), Nathan Greene (New York-Investment Funds), Gregory Tan (New York-Project Development & Finance) and Philip Urofsky (Washington, DC-Litigation); counsel Mehran Massih(London-Environmental) and Moyn Uddin (Abu Dhabi-Finance); and associates Miles Muirhead (London-Finance), Samuel Ogunlaja (Abu Dhabi-Project Development & Finance), Robert O’Leary (New York-Project Development & Finance), Paul Pasalic (London-Mergers & Acquisitions), Chad Passlow (Singapore-Project Development & Finance), Andrea Steeves (New York-Project Development & Finance), Adam Sternberg (New York-Tax) and Devon Yamauchi (Washington, DC-Tax).