The firm was recognised for its role advising on the $700 million financing of the Thar Block II coal mining project and the associated $821 million financing of two 30 megawatt power plants in Pakistan. The deal included Islamic tranches implemented under the musharaka structure.
A member of the IFN judging panel said: "Project Finance is one of the most competitive categories in the annual IFN Legal Awards and this year was no exception. With its latest win, Pinsent Masons demonstrates not only its strength and superiority in the field but cements its position as one of the leading Islamic finance law firms globally – outpacing its rivals with a combination of expertise, dedication, transactional breadth and shrewd practice."
The firm was also recognised for its work on a $178 million project financing extended by a syndicate of banks and the Islamic Corporation for the Development of the Private Sector as well as advising Pakistan GasPort Consortium on the financing of a liquefied natural gas import terminal in Pakistan.
Finance partner at Pinsent Masons, Amir Ahmad, said: "We are delighted to have been recognised as global leaders in Islamic Finance."