Banking

 

We have advised extensively on international standard form agreements for derivatives transactions -- for example, the ISDA, GMRA, GMSLA and CPMA forms -- and on how transactions made under them would stand in the event of the insolvency of one of the parties.

Our largest-ever bank lending transaction has been of a scheme to provide funding for the electricity, aviation and small and medium-size industry sectors. This transaction is also the largest bank lending ever by a Nigerian lender.

Outside acquisition, infrastructure and project financing, we advise frequently on important, varied and challenging bank credit transactions.

Not least among these have been several recent lendings by foreign development finance institutions and commercial banks to Nigerian banks to raise the foreign currency lending resources available to Nigerian banks.

We have advised on several large financings and re-financings of the operations of upstream oil-and-gas sector companies. Some of the borrowers have been owners of acreage. Others have been service contractors working with owners of acreage in return for shares of production.

We have worked regularly with the largest arrangers of credit to the Nigerian oil-and-gas sector on several of the largest and most complex lendings that they have made in recent years.

We have advised on restructurings and re-financings of loans to the oil-and-gas producers, service companies and downstream companies, to hospitality and real estate sector actors, and to manufacturers.

We have advised on a number of large and eclectic public sector credit transactions ranging from the large scheme mentioned at the beginning of this PART to financings of the purchase of motor cars by civil servants and to other financings to provide funding for farmers.

We have advised on what was at the time the largest single bank credit transaction ever by a Nigerian corporate borrower -- to a telephony operator, for network expansion.


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