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Overview
Sam Manful is an associate in the Abu Dhabi office of Paul Hastings.
Sam advises leading commercial and investment banks, direct lenders and private credit funds, export credit agencies, sponsors, and corporate and sovereign borrowers on a wide range of debt finance and restructuring transactions. He has advised clients on both conventional and Sharia compliant transactions across the Middle East, Europe and Africa. Sam has also been seconded to the restructuring team of the Dubai office of a global financial institution.
Sam was recognised as a Rising Star in 2021 and a Key Lawyer in 2025 by Legal 500 for Banking and Finance (including Islamic finance).
Accolades
- The Legal 500, Key Lawyer (2025)
- The Legal 500, Rising Star (2021)
Education
- College of Law, Legal Practice Course, 2014
- University of Warwick, LL.B, 2013
Representations
- The lenders, in a US$100 million financing to a leading cosmetic and beauty brand based in Dubai
- Nakheel PJSC. on its AED 17 billion conventional and Islamic financing secured against a portfolio of properties located in Dubai.
- Property Finder, an online real estate platform operating primarily in the UAE, on its debut financing provided by Francisco Partners; the transaction marked Francisco Partners’ first investment in the UAE.
- Goldman Sachs Asset Management and HSBC Bank Middle East Limited, in a US$90 million financing and capital investment arrangement in respect of Sunset Hospitality Group, a leading UAE based hospitality provider.
- An Abu Dhabi government-related entity, in connection with a US$900 million financing for a strategic acquisition
- The lenders to Emirates Property Investment, the property investment division of Al Fahim Group, in respect of a secured AED 1.1 billion Murabaha facility.
- Arabian Centres Company, Saudi Arabia’s leading shopping mall owner, developer and operator, on its dual currency US$1.9 billion (USD and SAR) refinancing package. The refinancing consists of a senior unsecured $500 million debut Reg S/144A five-year Sukuk issuance, a senior secured dual currency US$1.2 billion-equivalent Ijarah and Murabaha term facilities and a senior secured dual currency $200 million-equivalent revolving Murabaha facility.
- Fawaz Abdulaziz Al Hokair Co., a leading diversified fashion, beauty and food retailer in Saudi Arabia with international operations across 13 countries and long-term relationships with more than 80 leading international retail brands, on its dual currency US$800 million (USD and SAR) refinancing package. The refinancing consists of a senior secured dual currency US$650 million-equivalent Murabaha term facility and a senior secured dual currency US$150 million-equivalent revolving Murabaha facility.
- Middle East Specialized Cables Co., a KSA listed entity, in relation to the restructuring of its syndicated facilities and government-backed support packages.
- GFH Financial Group, in relation to a Murabaha-backed real estate financing.
- The Emirati Gargash family, in relation to Islamic and conventional syndicated facilities made available by Mashreqbank PSC for the acquisition of Gargash Enterprises.
- FIVE Holdings Limited, in relation to its inaugural green financing, consisting of US$350 million senior secured guaranteed green notes and the linked US$200 million senior secured revolving credit facility.
- The Government of the Sultanate of Oman in connection with the separated ECA (UKEF) dual tranche and commercial financings for the US$873.7million design, construction and development of three hospitals in Oman, in Salalah, Suwaiq and Khasab.
- The lenders to AIR Group Ventures Limited, in relation to a US$405 million senior term loan facility and US$75 million revolving credit facility
- Cassa Depositi e Prestiti S.p.A. and Standard Chartered Bank, as arranger and agent respectively, together with a group of lenders, on the negotiation of the restructuring of a SACE covered facility to a UAE-based developer.
- Al Borj International for Operation and Maintenance Company, a leading facilities management company in the Kingdom of Saudi Arabia, in connection with their SAR 6.011 billion debt restructuring.
- SACE and the Finance Parties, in connection with an ECA-backed financing to the Government of Sharjah through the Ministry of Finance under the SACE PUSH program.
- Lulu Retail Holdings PLC, on its initial public offering on the Abu Dhabi Securities Exchange (ADX).
- La Ville Hotel LLC, a subsidiary of Dubai Holding, in connection with its secured conventional AED term loan by the National Bank of Ras Al Khaimah PSC.
- A leading UAE Bank in connection with the proposed AED 2 billion senior secured revolving credit facility to be entered into by a subsidiary of a regional sovereign wealth fund.
- Standard Chartered Bank, in connection with a US$200 million financing to United Energy Group; a Hong Kong-based upstream oil and gas group with investments across Pakistan.
- Standard Chartered Bank, as lead arranger in connection with a US$95 million senior secured borrowing base facility provided to Bow Energy Resources Pakistan Limited.
- Gulf International – Saudi Arabia, Commercial Bank of Dubai PSC, and National Bank of Bahrain B.S.C., Riyadh Branch as arrangers in respect of a SAR 478,700,000 syndicated facility.
- Banque Saudi Fransi and Bank Albilad, in connection with a SAR 1.8 billion Islamic Murabaha facility to a special-purpose vehicle under a private fund structure managed by SNB Capital, in order to finance land acquisition and development of a real estate project in Riyadh, to be sold off-plan under the WAFI Law.
- The Government of Kenya through the National Treasury, in connection with the US$250 million refinancing of a loan from the Eastern and Southern African Trade Development Bank.
Engagement & Publications
- Moderator, “Unlocking Private Credit Markets,” GCMA’s Gulf Capital Market Summit 2024
- Author, Analysing the growth of private credit in the Middle East, December 2024
- Author, LIBOR Cessation looms for international finance markets, June 2023
- Author, Middle East and Africa Corridor: The perfect partnership for funding Africa’s growth, December 2022
Involvement
- Member; Law Society of England & Wales