Sullivan & Worcester Advises Africa Trade Finance on US$160 million Trade Finance Facility for UBA
London, UK; February 1, 2018 - Sullivan & Worcester has advised Africa Trade Finance Limited as Arranger of a US$160 million club trade finance facility for Nigeria’s United Bank for Africa (UBA).
Nine lenders participated in the one-year deal, the financing for which was provided on December 19, 2017.
The Bookrunners and co-ordinators on the deal were Africa Trade Finance and Mashreqbank PSC. The mandated lead arrangers and bookrunners were: Absa Bank, British Arab Commercial Bank, Commerzbank and FirstRand Bank, acting through its Rand Merchant Bank division. Lead arrangers were Al Ahli Bank of Kuwait, BMCE Bank, Ghana International Bank and the National Bank of Ras Al Khaimah.
The Sullivan & Worcester team was led by Simon Cook, supported by Senior Associate Sam Fowler-Holmes. Jackson, Etti & Edu acted as local Nigerian counsel.
About Sullivan & Worcester
Sullivan & Worcester is a leading corporate law firm advising clients ranging from Fortune 500 companies to emerging businesses. With more than 175 lawyers in Boston, London, New York and Washington, D.C., the firm offers services in a wide range of areas, including corporate finance, banking, trade finance, securities and mutual funds, litigation, mergers and acquisitions, intellectual property, tax, real estate and REITs, private equity and venture capital, bankruptcy, environment and natural resources, climate change, renewable energy and water resources, regulatory law, and employment and benefits. ZAG-S&W — a joint venture between Israel-based Zysman, Aharoni, Gayer & Co. and Sullivan & Worcester — provides counsel to Israel-based companies and U.S. companies with Israeli interests on a variety of legal matters including access to capital markets, corporate issues, and tax.
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