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Norton Rose Advises Lenders on Emirates NBD’s Debut Loan

Norton Rose Fulbright has advised the book-runners and mandated lead arrangers on a US$1.75bn ESG-linked credit facility to Emirates NBD Bank PJSC, involving a syndicate of leading international banks. This is ENBD’s debut ESG-linked loan and one of the region’s first sustainability-linked loans.

Bank of America and Emirates NBD Capital Limited were appointed as Global Coordinators and Sustainability Coordinators and ING Bank NV and HSBC Bank Middle East Limited were appointed as the Sustainability Advisors.

Evidencing its commitment to measurable environmental, social and governance goals, ENBD has added sustainability metrics including gender diversity in senior management roles and water conservation to the pricing of its loan.

The Norton Rose Fulbright team assisted with the review of the ESG performance requirements, advising the Mandated Lead Arrangers, and incorporating the ESG KPIs into the loan documentation.

The Dubai-based Norton Rose Fulbright team was led by banking and finance partner Nicholas Robinson, with advice on the ESG side from partner Louisa Lynch, head of Norton Rose Fulbright’s sustainability practice in the Middle East region. They were supported by associate Noren Bhulji.

Nicholas Robinson commented: “We are proud to have advised the lenders to Emirates NBD on this landmark ESG-linked credit facility, and expect this type of loan will be the first of many for the region as the world looks towards more sustainable financing options.

Promoting sustainable finance ahead of 2030 is a $1.5 trillion focus for Bank of America, and this loan helps the bank work towards its aims to create a greener economy through lending, capital raising, advisory and investment services to help low-carbon and other sustainable businesses.”

Norton Rose Advises Cooper Pharma on Contract Agreement

Norton Rose Fulbright has advised Cooper Pharma on its granted license with United PPE to develop and manufacture COVID-19 diagnostic tests using Sherlock’s CRISPR technology. The contract has been granted under The 221b Foundation, a non-profit organisation established by Sherlock Biosciences to address the global COVID-19 pandemic while promoting diverse representation in STEM.

CRISPR technology called SHERLOCK and the diagnostic platform can achieve single molecule detection of nucleic acid targets. SHERLOCK utilises CRISPR activity for “smart amplicon detection” and can be adapted for use with existing diagnostic instruments, improving time to result due to its significant multiplexing capacity.

When a specific sequence of DNA or RNA is present, a CRISPR enzyme is activated and, much like a pair of scissors, starts cutting nearby genetic material, releasing a fluorescent signal that indicates a positive result.

Morocco-based Cooper Pharma is a leading laboratory of the national pharmaceutical industry, which has supported health professionals and aims to increase access to medicines.

Adjou Ait Ben Idir, Dubai-based corporate partner who led on the deal, commented: “This contract will enable increased access to COVID-19 testing in Asia and the Middle East. The design will be able to cover new and emerging variants, which remains of the upmost importance as we navigate through the pandemic.”

The Norton Rose Fulbright Dubai team also included senior associate Zaid Al-Rizzo and counsel Jonathan Burton.

Norton Rose Advises Shell on USD $926 Million Energy Deal

Norton Rose Fulbright has assisted Shell’s in-house legal team with the disposal of the company’s upstream interests in the Western Desert in Egypt to Cheiron Petroleum Corporation and Cairn Energy Plc for a base price of US$646m, with additional payments of up to US$280m between 2021 and 2024, subject to oil price and exploration results.

Shell is a public limited company with a primary listing on the London Stock Exchange and secondary listings on Euronext Amsterdam and the New York Stock Exchange.

Shell’s asset sale in Egypt includes its stake in 13 onshore concessions and its share in the Badr El-Din Petroleum Company. Completion is subject to government and regulatory approvals and is expected to occur in the second half of 2021.

The London-based team was led by senior associate Andrew Davies, supervised by corporate energy partner Hussain Kubba, and supported by associate Jarrett Whitehead. Partner Fiona Millington also provided ECM support.

Hussain Kubba commented: “This high-profile deal in Egypt forms part of Shell’s wider strategy to diversify its Upstream portfolio. We have recently seen a number of significant M&A transactions in the Egyptian Oil & Gas sector, and this transaction further demonstrates our deep bench of experience in terms of both the sector and jurisdiction.”

Maarten Hillen, Senior Legal Counsel at Shell, commented: “As in previous transactions, cooperation with Norton Rose Fulbright was seamless and very effective.

The team knows Shell’s ways of working, with a strong focus on in-house support, and added real value to the areas that were material to this transaction.”

Norton Rose Fulbright Overview

Norton Rose Fulbright is an international law firm. It is the second largest law firm in the United States and one of the ten largest in the world, by both lawyers and revenue. In 2017/18, Norton Rose Fulbright had total revenue of US$2.1 billion.

Norton Rose Fulbright Backs Women’s Day

Norton Rose Fulbright is an international law firm. It is the second largest law firm in the United States and one of the ten largest in the world, by both lawyers and revenue. In 2017/18, Norton Rose Fulbright had total revenue of USD 2.1 billion.

International Women’s Day gives us an opportunity to celebrate the achievements of women, and in particular those working at our firm.

The theme for 2021 is ‘Choose to Challenge,’ a reminder that we all can and should choose to call out gender bias and inequality to create an inclusive world.

Women are not a homogenous group; they are diverse by nature of their backgrounds, their life experiences, their abilities, perspectives and opinions, and International Women’s Day is about celebrating inclusion of women in its truest sense.

We have much to celebrate in our global firm – we have remarkable women doing notable work throughout the world. In January 2021, we became the first ‘Am Law 200’ firm to name a woman of colour, Shauna Clark, as both our Global and United States Chair.

Recently, Shauna spoke with women leaders of the firm to get their views on the challenges that women face today, including discrimination and micro-aggression in the workplace and the perceptions of female leadership during a pandemic.

The reality, then, is that women still are fighting not just for a place at the table – but to be listened to when they get a seat there.

One issue that remains is that women who are assertive are sometimes painted in a negative light, which can make them reluctant to display their full confidence or potential.

Combatting the issue requires raising issues of disrespect, implicit bias and micro-aggression when we see it, in order to seek to correct and improve it.

Global Law Firm Announces 2021 Global Charitable Initiative

Global law firm Norton Rose Fulbright has announced their 2021 Global Charitable Initiative will focus on fighting systemic racism and championing social justice worldwide.

Norton Rose has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg.

The aim of the initiative will be to raise awareness as to the importance of fighting racism and championing social justice in business, in local communities and as individuals through fundraising, pro bono and volunteering opportunities with charities focused on these causes.

Institutional racism, also known as systemic racism, is a form of racism that is embedded in the laws and regulations of a society or an organisation. It manifests as discrimination in areas such as criminal justice, employment, housing, health care, education, and political representation.

Where possible, the firm will join with like-minded clients in these activities to expand its reach.

In late 2021, lawyers and support personnel firm-wide will be invited to participate in a global activity day. Likewise, each region or jurisdiction will be encouraged to interpret the themes of fighting racism and championing social justice in a way that resonates with their local community and culture, identifying an organisation active in this cause with which to partner in 2021.

Norton Rose Fulbright’s Global Charitable Initiatives are proposed and sponsored by a different region each year.

Each region is asked to choose a cause which resonates with the firm globally, motivating lawyers and other personnel to participate and take action.

Past initiatives have included promoting the building of environmentally sustainable communities, fighting hunger and reducing food waste, supporting the Special Olympics and helping to build a facility for Menzi Children’s Home in South Africa.

Norton Rose Fulbright Appoints New Leadership in Warsaw

Warsaw is the capital and largest city of Poland. The metropolis stands on the River Vistula in east-central Poland and its population is officially estimated at 1.8 million residents within a greater metropolitan area of 3.1 million residents, which makes Warsaw the 7th most-populous capital city in the EU. 

Norton Rose Fulbright has appointed Grzegorz Dyczkowski, the head of its Warsaw banking and finance team, as managing partner of the Warsaw office. Grzegorz succeeds Piotr Strawa, the founder of Warsaw office of Norton Rose Fulbright who has served as managing partner since 2000.

Norton Rose is an international law firm. It is the second largest law firm in the United States and one of the ten largest in the world, by both lawyers and revenue. In 2017/18, Norton Rose Fulbright had total revenue of US$2.1 billion.

Regarding his new role, Grzegorz said: “I’m honoured to be appointed to the role of managing partner of Norton Rose Fulbright in Poland. With the support of my colleagues, we will continue to establish our practice as a leader in several areas of law: banking and finance, mergers and acquisitions and corporate and real estate.

Together with our Warsaw lawyers and by collaborating with other offices worldwide, we will enhance our reputation, nationally and globally, as a prominent law firm. I would like to thank Piotr Strawa for his contribution to the success of Norton Rose Fulbright in Poland.

Piotr has served as the managing partner for twenty years and, only because of his commitment and work, our law firm enjoys its present position and recognition.”

An Attorney-at-Law since 1998, Grzegorz joined Norton Rose Fulbright in 2003 and was appointed a partner in 2006. By effecting a change of the managing partner, the firm is also now renamed as Norton Rose Fulbright Dyczkowski and Partners, Limited Partnership.