The London and Dubai teams at Latham & Watkins have played a pivotal role in advising Tamara, a leading shopping and payments platform in Saudi Arabia and the broader Middle East, on securing an additional up to US$250 million in debt financing. This move increases Tamara’s total receivables warehouse facility to up to US$400 million, underscoring the company’s strategic efforts to expand its buy-now-pay-later (BNPL) product and enhance its market presence.
The facility comprises an incremental up to US$200 million of senior debt, orchestrated by Goldman Sachs, contributing to a total senior warehouse facility of up to US$350 million. Additionally, there is a further up to US$50 million mezzanine tranche, spearheaded by Shorooq Partners. This comprehensive financing arrangement reflects Tamara’s commitment to meeting the escalating demand for its flagship BNPL product while unlocking capital for strategic investments in new products and services.
The Latham team was led by London partner Tom Cochran and Dubai partner Eyad Latif (pictured), with counsel Omar Maayeh, London associate Leah Morgan, and Dubai associate Mustafa Darwich.