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 LLP
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, Tel Aviv and Washington, D.C., the firm offers services across a wide range of areas, including corporate finance, banking, trade and export 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, and employment and benefits law.
In London, the office’s market-leading trade and export finance practice works closely with the dispute resolution and insurance advisory and recovery practices. It is a premium provider of legal advice in relation to trade, export and commodity finance transactions and covers cross-border syndicated lending, structured export credit finance, structured trade and commodity finance, receivable purchase transactions, commodity repurchase agreements (repos) and debt restructurings, as well as project and infrastructure finance, and acquisition and asset finance.
The team advises trade finance banks, financial institutions, investment funds, export credit agencies, corporate borrowers, agents and trustees, and national and international organisations. It has advised on numerous award-winning finance transactions throughout Africa, Western, Central and Eastern Europe, Russia and the CIS and the Middle East.
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