Our specialist Banking & Finance Team has over the years developed expertise in delivering bespoke commercially innovative solutions to our broad range of clients including financial institutions, FMCG conglomerates, oil & gas companies and other blue chip companies. We advise on the most cutting-edge transactions in areas as diverse as acquisition finance, asset finance, debt capital markets, project finance, real estate finance, loan restructuring and trade and commodity finance. Our strength is under-pinned by our in-depth knowledge of the local financial market, keen understanding of clients’ needs, and our strong client relationship management skills supported by a full range of commercial services.
We are also able to leverage on the specialist know ledge of our colleagues in other Practice Areas of the Firm such as Corporate Mergers & Acquisitions, Tax, Commercial Litigation, etc., in providing robust advisory services to our clients. We represented 2 of the 8 distressed banks in the recent regulatory-driven business combination exercise.
Some of the services we offer include but are not limited to:
1. General Banking Services
We provide transactional and advisory services on the whole range of banking products including syndicated and bilateral lending, leveraged finance, restructuring, acquisition finance, asset finance,and real estate finance. Our expertise and experience allows us to advise on domestic and international transactions across the entire creditspectrum and this is complemented by our hands-on approach to assignments from transaction inception to completion.
2. Trade Finance Services
Given the importance of trade to any economy, lawyers in Banking & Finance Team have a keen understanding of the ever changing dynamics of the market environment and provide expert opinion on structured trade finance, pre and post-shipping financing, facilities letter, letters of credit and other forms of documentary credit, security over receivables, trading contracts, letters of pledge, bills of lading, leasing, warehouse receipts etc., to our clients in this increasingly complex practice area. We have actively interfaced and represented market participants such as banks, commodity trading companies, export credit agencies and other corporates in different capacities.
3. Project Services
Projects typically have unique demands and dynamics. Our in-depth understanding and knowledge of the political, legal and commercial environment enables us to better appreciate the underlying business issues and risks, and to work constructively with all parties to allocate these risks appropriately. We offer to work as part of your team to anticipate and meet challenges that may be peculiar to each specific project in order to provide both legal and commercially expedient expert advice to meet mutual objectives on the financing aspects of the project. As part of this service, we are able to provide advice on the equity and debt instruments that may be utilized, inter-creditor arrangements, subordination agreements, construction contracts, off-take agreements, accounts structure, security packages and other ancillary documents that are typical to such projects.
4. Derivatives and Structured Products Services
The team operates on the cutting edge of structured finance, and has advised on various structuring and implementation of innovative and complex transactions in securitizations, repo transactions, structured products, and derivatives. We adopt a forward-thinking approach and constantly devise innovative solutions to reflect the changing needs of our clients. We have advised and actively participated in the 1st securitized corporate bond issuance in Nigeria and have represented clients on several repo transactions.
Advised a syndicate of Lenders on the financing of a leading indigenous oil exploration and production company of approximately US $250 Million (Two Hundred and Fifty Million Dollars) for the Production and Development of OPL275 and the Design, Construction and Installation of 67km Amukpe/Chevron Terminal Escravos and 35km Amukpe/Warri Refinery Liquid Hydro Carbon Pipeline;
Advised Standard Chartered Bank London on the review of the Facility Agreement, Account Charge & Assignment of Receivables , Letter of Pledge in respect of the USD$250 million uncommitted on-demand facility by Standard Chartered Bank to a indigenous midstream oil & gas company Advised Skye Bank Plc on the structure, conducting due diligence and preparing transaction documents in respect of the USD$46 Million financing to an indigenous oil company to develop its marginal oil field assets;
Advising a syndicate of international leading financial institutions in respect of the US$ 107 million ECA-backed financing to a real estate development entity for the construction and development of mixed use real estate at Eko Energy Estate at Eko Atlantic City, Lagos;
Advised Skye Bank Plc, in connection with a $200mb ridge financing provided in conjunction with Afrexim Bank to Seplat Nigeria Limited for the financing of an Oil Mining Lease recently awarded to Seplat, an indigenous oil and gas company;
Advised Commerzbank Aktiengesellschaft, ING Belgium NV/SA and Standard Chartered Bank as Mandated Lead Arrangers in respect of the US$ 150 million ECA-backed financing for the expansion of an existing port facilities at Onne oil and gas free zone by a concessionaire company;
Advised on the $785 Million Oso Field Development Project jointly owned by Mobil Producing Nigeria Unlimited and the Nigerian National Petroleum Corporation (NNPC), partly financed by equity from the sponsors, and debt capital from international institutions, such as, the World Bank, IFC, US Export Import Bank, Japan Export Import Bank and the European Investment Bank;
Advised Arcadia Energy Pte. Limited as Mandated Lead Arranger, Agent and Security Agent in respect of US$525 Million Reserve Based Lending to an indigenous upstream oil & gas company in order to fund the company’s commitments under Strategic Alliance Agreements with joint venturers in certain OMLs;
Advised an international financial institution in respect of the USD$90 million uncommitted on-demand facility by the financial institution to Petrowest S.A to fund its downstream operations;