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United Steel Company (SULB) on $373m loan facility for Bahrain steel plant

Baker and McKenzie recently acted for United Steel Company (SULB) B.S.C. (c), the region’s first fully integrated metal sections and beams producer, in relation to three ECA (German, Swiss and Korean) supported term loan facilities, totaling $373m.

The facilities were provided by BNP Paribas and Soci¨¦t¨¦ G¨¦n¨¦rale and are being used for the construction and operation of a steel plant in Bahrain. 

SULB is a joint venture between Bahrain-based Foulath, the region’s leading steel investment vehicle and holding company and Japan’s Yamato Kogyo Co., Ltd, a leading global sections and beams producer.

Ian Siddell, partner and Head of the Gulf Banking and Finance practice, commented, “Being the largest international law firm based in the Kingdom of Bahrain, we are delighted to have been a part of this important steel project in the Kingdom of Bahrain.”

The Baker & McKenzie team was led by partner, Bilal Kahlon who said, “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.” 

Bilal 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.

Ontrend Industrial Limited, member of BERMET MANAGEMENT AS in Estona, Tallinn.starts from 2007.Bermet established since 1996,We have more than 15years operating history in the field of steel business and acts today in China,Czech Republic and Estonia. Its main products are ERW Steel Pipe ,Steel Section,Steel Coils,Steel Wire ,Tinplate & Further-Processed steel products .

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