Madhurima Basu

A Year-End Insight into Energy & Climate Law

This special edition of Law Update, marking Al Tamimi & Company’s 35th anniversary, explores the evolving legal landscape of energy and climate law across the region.

As the Middle East prioritises sustainable growth, this edition examines key developments shaping the future of the sector. From the UAE’s Federal Law No. 11 of 2024 to advancements in green hydrogen, solar financing, and carbon capture technology, we spotlight the innovative strides and challenges defining this critical area.

We also go into Saudi Arabia’s initiatives to integrate carbon capture into its industrial expansion and Egypt’s AFRICARBONEX platform, which underscores the region’s commitment to a sustainable and inclusive future.

Join us as we celebrate 35 years of legal excellence and forward-thinking insights, paving the way for a more sustainable tomorrow.

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The leading law firm in the Middle East & North Africa region.

Madhurima Basu

Senior Counsel

Biography

Madhurima Basu is Senior Counsel in the Banking & Finance practice in Al Tamimi & Company’s Kuwait office. Prior to joining Al Tamimi & Company, Madhurima was senior legal counsel in Abu Dhabi Commercial Bank PJSC based in Abu Dhabi.

Madhurima has over 10 years’ experience advising on banking and finance transactions in the Middle East. She specialises in debt capital markets, loans, structured products, fixed income, money market and derivatives (conventional as well Sharia compliant equivalents) transactions. She has particular expertise in drafting and negotiating standard and complex derivatives transaction documents across all asset classes.

Madhurima is recognised by the leading legal publication The Legal500 as Key Lawyer in the Banking & Finance practice in Kuwait.

Recent Experience

Acted on behalf of the Goldman Sachs International and Bank of America Merrill Lynch in Kuwait in the US$ 325 million 8.625% fixed rate notes due 24 April 2024 issued by ADES International Holding Ltd. The company operates as a holding company and, through its subsidiaries, provides oil and gas drilling and production services in Egypt, Algeria, and the Kingdom of Saudi Arabia
Assisted H-Energy Mideast to train its staff on ISDA Agreement, CSA and new regulations and negotiate ISDA Agreements
Advised National Bank of Kuwait to review and negotiate Client Cleared OTC Derivatives Addendum and cleared derivatives execution agreement (CDEA) with a Tier 1 global bank acting as clearing member
Acted on behalf Kuwait Petroleum Corporation as borrowers on a KD 350 million and a USD 1 billion revolving syndicated term facilities with notable international and Kuwait banks as lenders
Advised certain foreign banks on the netting issues in Kuwait
Advised an Abu Dhabi based fund manager on EMIR classification of their wholly owned funds
Represented the various international banks as lenders in a series of bilateral facilities totalling USD 400 million with a Kuwait conventional bank as borrower
Advised Warba Bank to negotiate Shariah compliant repo agreements (collateralized Murabaha) and Shariah compliant ISDA TMA Schedule, credit support documents and profit confirmations with various GCC and international counterparties
Advised Al Hamra Group to negotiate a loan linked ISDA Agreements and standard ISDA Agreements with UAE banks
Advised National Bank of Kuwait and Kuwait Finance House with respect to the KD 61.25 Million syndicated loan facility provided to Limak İnşaat Sanayi ve Ticaret A.Ş for the construction of service roads and the car park in connection with the new terminal at Kuwait International Airport
Advised Kuwait Finance House in respect of a USD 200 Million Murabaha facility to a major Kuwaiti conventional bank
Advised Commercial Bank of Dubai and RAK Bank to negotiate hedging terms in a multitranche syndicated term facility and negotiate a loan linked ISDA Agreements/ novation agreement
Advised various banks in the GCC on IBOR transition issues
Advised National Bank of Kuwait to review FX and interest rate derivatives confirmations as a part of their Murex project