Maples and Calder once again affirmed its position as leading offshore law firm in the Middle East as it scooped two awards at the 2011 IFLR Middle East Awards.

Acting as Cayman Islands counsel on two award winning deals, Maples and Calder was part of the teams which received awards for Debt and Equity Linked Deal of the Year and Project Finance Deal of the Year.

Tahir Jawed, Managing Partner of Maples and Calder’s Dubai office, said, “We are delighted to accept these awards. The recognition they bring is a testament to our position as market leaders and highlights the enduring popularity of Cayman Islands-based Islamic finance vehicles.”

Shuweihat 3 IPP Project, reportedly the biggest project financing the year, was declared Project Finance Deal of the Year.  Herbert Smith and Stibbe advised on the English and Dutch law aspects of the project respectively, with Maples and Calder acting as Cayman Islands counsel supporting Herbert Smith.  Ashurst acted as international counsel for the lenders, White & Case acted as international counsel to Abu Dhabi Water and Electricity Authority and Trowers and Hamlins acted as local counsel.

HSBC Bank Middle East Sukuk, the US$5 billion sukuk programme and the US$500 million issuance under the programme, was Debt and Equity Linked Deal of the Year.  Linklaters advised the guarantor on English and UAE law, Clifford Chance advised the managers on English and UAE law and Maples and Calder advised the issuer on Cayman Islands law.

Maples and Calder advised on a total of eight deals which were nominated for this year’s Awards, including five out of the seven deals in contention for the Debt and Equity Linked Deal of the Year, a further testament to its standing in the region as a top tier firm.