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Who Represents Who

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Aluko & Oyebode’s banking and finance head Kofo Dosekun and Oludare Senbore acted for a syndicate of onshore and offshore lenders on the provision of a $445m senior secured medium term financing facility to Accugas for refinancing purposes. Other highlights included advising African Export-Import Bank and other international lenders on the financing of Smile Telecoms’ network expansion programme across several African countries, including Nigeria. Debt capital markets work includes recently assisting the trustees with First City Monument Bank’s issuance of fixed rate bonds under its ₦100bn debt issuance programme, which involved providing regulatory advice. Capital markets group head Olubunmi Fayokun has served on various committees aimed at promoting the development of Nigeria’s capital markets. Other banking and finance specialists include Oghogho Makinde and Reginald Udom. Capital markets expert Ayodeji Oyetunde is also recommended along with senior associates Jennifer Martins-Okundia and Funmilayo Otsemobor.

Banwo & Ighodalo’s ‘innovative team is recommended for resolving complex issues’. Lender-side matters included acting for African Development Bank on a proposed line of credit for Fortis Microfinance Bank; advising Natixis Bank on a $1bn-plus loan facility for Total E&P Nigeria; and assisting the lenders – including Industrial and Commercial Bank of China – on loan facilities provided to Emerging Markets Telecommunications Services Nigeria for the construction of a telecoms network. US government development finance institution Overseas Private Investment Corporation (OPIC) is also a client. Borrower-side mandates included acting for a telecoms company on the refinancing of loan facilities. Femi Olubanwo, Asue Ighodalo and Ayotunde Owoigbe are the key partner contacts. Senior associate Seyi Bella and recently promoted partner Isa Alade are recommended.

Always able to meet and exceed clients’ expectations’, G. Elias & Co’s ‘response times and ability to deliver the desired results are top quality’. The practice’s experience includes advising domestic and international financial institutions on acquisition and project financings, as well as corporate finance and refinancing. Team head and managing partner Fred Onuobia advised the lenders on a forward sale transaction – arranged by Standard Chartered and United Bank for Africa – to finance oilfield developments. Capital markets work included assisting a bank with a bond issuance programme. The team also handles derivatives work, equity offerings and securitisations. Segun Omoregie and Gbolahan Elias SAN are recommended. Key associates are Oluwatoyin Nathaniel and Nosakhare Aguebor, who is ‘able to understand clients’ requirements and ensure that their requests are met accordingly’.

AELEX is highly rated for its experience in structured finance, IPOs and Eurobond issuances. Banking and finance work includes regularly advising on the provision of domestic and international credit facilities, particularly in the financing of power, oil and gas asset acquisitions. Borrower-side highlights included advising Emerging Markets Telecommunication Services on amendments to a loan facility, whereby a third tranche was granted by a consortium of Nigerian banks. Lawrence Fubara Anga heads the banking, finance and capital markets practice group. Olusina Sipasi and managing partner Theophilus Emuwa are also recommended.

Odujinrin & Adefulu is well known in the market for bank lending, acquisition finance, structured trade finance and project finance, in addition to which it also handles debt and equity offerings. Corporate, capital markets and finance team head Damilola Adetunji advised the syndicate of lenders on an acquisition financing of an electricity generation company.

Olaniwun Ajayi LP has been especially active in project finance, acquisition finance and corporate borrowing. Capital markets activity included assisting clients with debt and equity offerings, including structured debt and high-yield solutions. Anuoluwapo Balogun advises on project and real estate finance.

Sefton Fross’ team is experienced in advising on financings related to the energy and natural resources sectors, as well as telecoms, infrastructure, real estate, financial services and insurance. It recently advised the trustee on Fidelity Bank’s fixed rate subordinated unsecured bond issuance and provided Société Générale with a legal opinion involving the treatment of derivatives in Nigeria. The practice also advised Fast Credit on a convertible loan note issuance. Team head and managing partner Olayemi Anyanechi is highly rated.

Templars has strong project finance credentials, particularly in infrastructure and power deals. The team advised Hyflux, as sponsor, on the financing and development of a water desalination plant and captive power plant. Chike Obianwu, Oghogho Akpata, Inam Wilson and Difo Komolafe are recommended.

Udo Udoma & Belo-Osagie advises on syndicated and bilateral loans, debt restructurings, as well as acquisition, asset and project finance; its structured finance and derivatives practice stands out. Managing partner Daniel Agbor, who heads the banking and finance team, is recommended for securities offerings, derivatives transactions, debt restructurings and debt-to-equity conversions.

Abdulai, Taiwo & Co is recommended for its experience in PPP and PFI projects, particularly in the energy, power and transport sectors. The team advised Shelter Afrique, as lender, on Afro-Asia Shelters International’s 3,000-unit housing development programme and assisted The Infrastructure Bank with the financing of a waterworks project. Alayo Ogunbiyi, Ladi Taiwo and senior associate Kunle Ayansola are recommended.

Adepetun, Caxton-Martins, Agbor & Segun’s team is well known for its project finance expertise in the oil and gas, power, healthcare and infrastructure sectors. Afolabi Caxton-Martins, Felicia Kemi Segun, Benedict Unaegbunam and Donna Obaseki-Ogunnaike are the key advisers.

Advocaat Law Practice recently acted as Nigerian counsel to ING Belgium Brussels Bank on a $150m loan facility. Project finance highlights included assisting First City Monument Bank with a revolving credit and term loan facility granted to a mining company. Associate partner Douglas Okojie heads the financing group.

Ajumogobia & Okeke is experienced in regulatory and transactional work, where it regularly advises on syndicated and non-syndicated financings, such as asset finance. It is also noted for its debt conversion and securitisation expertise. Banking and finance practice head Olufemi Lijadu, managing partner Ovie Ukiri and Patrick Osu are recommended.

Bloomfield Law Practice has ‘an edge in terms of service because it makes clients’ business its business’. The team focuses on acquisition finance – particularly in the power, oil, gas and mining sectors – and also has experience in capital markets work, as well as asset and project finance. The team recently advised Maryland Mall as a borrower of a loan facility, which was advanced by a Nigerian bank for the construction and development of a retail development. New partner Adedoyin Afun, who joined from Banwo & Ighodalo, is recommended for his ‘unconditional commitment, flexibility and ability to have solutions to issues at hand’. Senior associate Chukwudi Ofili is also an experienced adviser.

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