Sullivan & Worcester Advises on $1.7 billion 2014 Cocobod Financing
London, UK; September 16, 2014 – Law firm Sullivan & Worcester has advised Deutsche Bank, as documentation agent, and on behalf of the syndicate lenders in the annual Pre-Export Receivables-Backed Trade Finance Facility for the Ghana Cocoa Board (“Cocobod”) for $1.7 billion. The deal signed on Thursday 11th September, 2014.
The proceeds of the Facility will be utilized to assist Cocobod in meeting its financing needs for the 2014/2015 cocoa crop. The facility was signed on time and for an oversubscribed amount.
Geoffrey Wynne, head of the Trade & Export Finance Group and Sullivan & Worcester’s London office, commented: “We are delighted to advise on this significant annual financing; which has gone ahead despite challenging market conditions which are the result of a combination of sanctions and concerns with regards to financing in any emerging market.”
Geoffrey Wynne led the Sullivan & Worcester team advising Deutsche Bank, supported by London Associate Sam Fowler-Holmes.
About Sullivan & Worcester
Sullivan & Worcester is a leading corporate law firm advising clients ranging from Fortune 500 companies to emerging businesses. With 185 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, securitization, 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