White & Case acted for Goldman Sachs to seal deal with Tamara for expansion
The transaction was worth USD 150 million
Global law firm White & Case has advised Goldman Sachs International on warehouse securitization.
The transaction involved buy now, pay later (BNPL) receivables originating from Al Nakhla Information Technology Systems (Tamara) in Saudi Arabia. Tamara is the leading shopping and payment platform in Saudi Arabia and the GCC region.
The latest round brings Tamara’s total funding in equity and debt up to USD366 million.
The deal will enable Tamara to access financing for additional receivables, which will aid in the expansion of its BNPL business in Saudi Arabia. The transaction structure offers a unique means for businesses in the region to monetize receivables. It represents a positive trend towards more sophisticated structured solutions for raising finance in the Gulf Cooperation Council.
The White & Case team advising on the transaction was led by partner Debashis Dey (Dubai & London). He was supported by local partner Greg Pospodinis (Dubai), counsel Raheel Butt (Dubai), associates Salvia Matonyte, Eren Ayanlar, Ola Sanni, Gabrielle Lowe (all Dubai), Nezar Al-Abbas (Riyadh), and Yuning Zhou (Hong Kong).