Sullivan & Worcester Advises on $1.8 Billion 2015 Ghana Cocobod Financing
London, UK - September 18, 2015 – Sullivan & Worcester has advised documentation agent Deutsche Bank, and the syndicate of lenders, in the annual Pre-Export Receivables-Backed Trade Finance Facility for the Ghana Cocoa Board ("Cocobod") for $1.8 billion. The deal signed on Thursday 17th September, 2015.
The proceeds of the facility will be utilised to assist Cocobod in meeting its financing needs for the 2015/16 cocoa crop. The facility was signed on time and in the amount launched. It was oversubscribed in syndication.
Geoffrey Wynne, head of the Trade & Export Finance Group and Sullivan & Worcester's London office, commented: "This financing remains the pre-eminent Sub-Saharan receivables-backed soft commodity financing. It allows Cocobod to meet its financing needs for the annual cocoa crop, while at the same time providing security of payment to Ghanaian cocoa farmers. This year the facility again proved enormously popular. Sullivan & Worcester is very pleased to have provided advice again. For me this is also a milestone given it is the 21st time I have advised on this financing in its 23 year history."
Geoffrey Wynne is leading the Sullivan & Worcester team advising Deutsche Bank, supported by London associate Sam Fowler-Holmes.
Trade Finance Awards
In June 2015, Sullivan & Worcester was named Best Law Firm in Trade Finance, by the readers of Trade & Forfaiting Review (TFR) in its annual TFR Excellence Awards, for the second year running. The firm was also named in the top 3 in Global Trade Review (GTR)’s 2014 Best Law Firm for trade finance law firms, as judged by GTR readers.
About Sullivan & Worcester
Sullivan & Worcester is a leading corporate law firm advising clients ranging from Fortune 500 companies to emerging businesses. With 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, 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.
Sullivan & Worcester’s London office is located at Tower 42 in the heart of the City of London. Details are as follows: 25 Old Broad Street, London EC2N 1HQ, Tel: +44 (0)20 7448 1000.
+44 (0)1603 431 936