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Billion Dollar Deals by Oyemaja

Welcome to Oyemaja Billion Dollar Deals, where we highlight and discuss the impact of the most complex big-ticket transactions in the world by Nigerian lawyers and law firms.

Nigeria Sovereign Investment Authority (NSIA) and Infrastructure Credit Guarantee Company Limited (InfraCredit) Construction Finance Warehouse Facility

Firm: Templars

Year: 2023

Country: Nigeria

Client: Nigeria Sovereign Investment Authority (NSIA); Infrastructure Credit Guarantee Company Limited.

Value: 100 Billion Naira.

Industry/Sector: Construction.

Structure: Project Finance

Team: Desmond Ogba (Lead), Osarugue Tracy Izekor, Amadi Ijiomah, Elizabeth Tuvié Towéh.

Expansion of Kalambaina Plant in Sokoto State

Firm: Olaniwun Ajayi

Year: 2023

Country: Nigeria

Client: BUA Cement Plc

Value: 1 Billion Dollars

Industry/Sector: Construction

Structure: Debt Financing

Team: Dr. Gabriel Onagoruwa, Wolemi Esan, Ibi Ogunbiyi, Chinenye Ajayi, Ganiyat Seriki, Chuks Ibechukwu and Juanita Derex-Briggs.

Firm on the other side: Udo Udoma & Belo-Osagie; Pinsent Mansons

MTN Nigeria Communications PLC (MTN)  Series 6 & 7 Commercial Paper Issuance

Firm: Udo Udoma & Belo-Osagie

Year: 2023

Country: Nigeria

Client: MTN Nigeria

Value: 250 Billion Naira

Industry/Sector: Telecommunications

Structure: Commercial Paper Issuance

Team: Yinka Edu, Joseph Eimunjeze, Lisa Esamah, Damilola Opayinka, Itoro Uwemedimo Etim, and Iheoma Njoku.

Unsecured Financing Of Up To Us$300 Million From Afrexim Bank And The Issuance Of Mandatory Convertible Notes

Firm: Aluko & Oyebode

Year: 2023

Country: Nigeria

Client: Access Holdco & Access Bank Plc

Value: 300 Million Dollars

Industry/Sector: Banking

Structure: Project Financing

Team: Ayodeji Oyetunde, Funmilayo Otsemobor, Oluwatamilore Oluwalaiye, Victor Oluwajobi, Michael Nwanneka, Adeyemi Ayeku.

Acquisition of majority stake in FTN Cocoa Processors PLC

Firm: Banwo & Ighodalo

Year: 2023

Country: Nigeria

Client: Norfund

Value: 12 Million Dollars

Industry/Sector: Agriculture

Structure: Acquisition

Credit Enhancement of Darway Coast Nigeria Limited’s Green Debt Issue.

Firm: Detail Solicitors

Year: 2022

Country: Nigeria

Client: InfraCredit

Value: 10 Million Pounds

Industry/Sector: Clean Energy

Structure: Debt Financing

Team: Anthony Ezeamama, Temiloluwa Sotonwa, Timiebi Edo and Anne Fisher.

Purchase of a 80,025 GT floating, production, storage and offshore vessel - FPSO MAYO ABO (Ex ABO FPSO) from BW Abo Pte Ltd.

Firm: Bloomfield

Year: 2023

Country: Nigeria

Client: STAC Marine Offshore Limited

Industry/Sector: Shipping / Maritime

Structure: Charter Agreement

Team: Adedoyin Afun, Ebele Folorunsho, Michael Abiiba, Adebisi Lamidi, Ugochukwu Eze, Abiodun Ogunbameru and Peace Urherebrume.

Intra-African trade investment finance facility (the “Facility”) to Access Holdings Plc (“Access HoldCo”)

Firm: G.Elias

Year: 2023

Country: Nigeria

Client: African Export-Import Bank (Afreximbank)

Value: 300 million dollars

Industry/Sector: Banking

Structure: Investment Finance

Orosur Lithium Exploration JV in Nigeria

Firm: Udo Udoma & Belo-Osagie

Year: 2023

Country: Nigeria

Client: Orosur Mining Limited

Value: 5 million dollars

Industry/Sector: Mining and Minerals

Structure: Joint Venture Agreement

Team: Lolade Ososami, Amina Ibrahim, Etido David and Fortune Ihator

Construction of over 30MW of Rensource Energy Commercial and Industrial Limited’s commercial and industrial portfolio in the next 3 years

Firm: Udo Udoma & Belo-Osagie

Year: 2023

Country: Nigeria

Client: ECHOSYS Invest

Value: (Up to) 15 million dollars

Industry/Sector: Renewable Energy

Structure: Debt Finance

Team: Adeola Sunmola, Chisom Okolie, Maryam Salami, Iwuozo Godson, Opeyemi Alexander Adeshina and Ikenna Edeh.

65 million dollars senior secured facility for the procurement, construction, and operation of hybrid energy solutions for telecommunications infrastructure in Gabon, Nigeria, and Sub-Saharan Africa.

Firm: Udo Udoma & Belo-Osagie

Year: 2023

Country: Nigeria

Client: Mirova SunFunder Inc; Nederlandse Energie Maatschappij (NLE) Financierings-Maatschappij voor Ontwikkelingslanden N.V (“FMO”) and Development Bank of Austria (“OeEB”)

Value: 65 million dollars

Industry/Sector: Renewable Energy; Banking and Finance

Team: Adeola Sunmola, Victor Samuel and Iwuozo Godson.

Rice commodities tradable forward contracts offering: the establishment of a N30Billion Private Commodity Note Programme, and the issuance of Series 1 N5Billion Notes under the Programme.

Firm: G.Elias

Year: 2023

Country: Nigeria

Client: Tradenet Ltd., Lagos Commodities and Futures Exchange (“LCFE”), Lagos State Government.

Value: 30 billion Naira

Industry/Sector: Agriculture

Chapel Hill Denham’s Infrastructure Debt Fund for Tizeti’s state-or-art broadband network and expansion into 15 states in Nigeria.

Firm: Aluko & Oyebode

Year: 2023

Country: Nigeria

Client: Tizeti Network Limited.

Value: 30 billion Naira

Industry/Sector: Telecommunications

Structure: Debt Financing

Team: Oludare Senbore, Oluwatamilore Oluwalaiye, Adeyemi Ayeku and Elijah Joseph.

Saroafrica International Ltd Twenty-five billion Naira Commercial Paper Issuance Programme

Firm: Udo Udoma & Belo-Osagie

Year: 2023

Country: Nigeria

Client: Saroafrica International Limited

Value: 25 billion Naira

Industry/Sector: Consumer Goods and Agriculture

Structure: Debt Financing

Team: Yinka Edu, Ekundayo Onajobi, Lisa Esamah, Damilola Opayinka, Ikenna Edeh, Tomisin Taiwo, and Adaobi Omosefe Uzo.

USD 25 million counter-guarantee to InfraCredit

Firm: Aluko & Oyebode

Year: 2023

Country: Nigeria

Client: GuarantCo

Value: 25 Million Dollars

Industry/Sector: Financial Markets

Structure: Counter Guarantee

Team: Oghogho Makinde, Olagoke Kuye, Oghenetega Abu and Funmilola Aliu

FG Gold Limited and African Finance Corporation on Mezzanine Financing of Gold Mine in Sierra Leone

Firm: Olaniwun Ajayi

Year: 2024

Country: Nigeria

Client: FG Gold Limited

Value: 72 billion Naira

Industry: Mining

Structure: Project Finance

NNPC’S Syndicated Loan to boost nigeria’s macroeconomic stability and Long-Term Economic Growth.

Firm: Olaniwun Ajayi

Year: 2024

Country: Nigeria

Client: NNPC

Value: 3.3 billion dollars

Industry: Oil and Gas

Structure: Structured Finance

African Development Bank on Trade Financing Agreement with FSDH Merchant Bank

Firm: Templars

Year: 2024

Country: Nigeria

Client: African Development Bank

Value: 26 billion Naira

Industry: Oil and Gas

Structure: Trade Financing

Team: Chike Obianwu, Dupe Dabiri, Victor Sameria, Olaotan Oyekan

Renaissance and its Shareholders Acquire Shell International PLC’S Entire Shareholding in Shell Petroleum Development Company of Nigeria Limited (SPDC)

Firm: Banwo and Ighodalo

Year: 2024

Country: Nigeria

Client: Renaissance

Value: 2.4 Billion Dollars

Industry: Oil and Gas

Structure: Acquisition

Transcorp Power Holdings Gets Listed on the NGX

Firm: G. Elias

Year: 2024

Country: Nigeria

Client: Transcorp Power Holdings Plc.

Value: Nearly 3 Trillion Naira.

Industry: Capital Market

Structure: Market Listing

Universal Music Group Acquisition of Mavins Group/ Record

Firm: Udo Udoma and Belo Osagie

Year: 2024

Country: Nigeria

Client: Universal Music Group

Value: 197 Billion Naira

Industry: Mergers & Acquisitions

Structure: Acquisitions.

Team: Folake Elias-Adebowale, Tobechi Nwokocha, Lisa Esamah, Damilola Adedoyin, Etido David, Itoro Udom, Aanu Odunaike, Precious David, Ayomide Soretire, and Yaknse Ekanem.

Construction of Redline Rail from Agbado to Oyingbo Expected to Transport 500,000 People Daily.

Firm: Denton ACAS

Year: 2024

Country: Nigeria

Client: Lagos State Government

Value: About 178 Billion Naira

Industry: Construction

Structure: Project Financing

Issuance of Tier 1 Bond By FCMB

Firm: Jackson, Etti and Edu

Year: 2024

Country: Nigeria

Client: Joint Trustees (FCMB Trustees and ARM Trustees)

Value: 26 Billion Naira

Industry: Capital Market

Structure: Bond Issuance

Team: Folasade Olusanya, Adekunle Soyibo, Benjamin Amans, Gabriel Omoniyi, Emediong Essien.

Trade Finance Loan to Sourcing and Produce Limited, a Trading Company Specializing in Procuring and Distributing Agricultural Commodities Across Africa.

Firm: Jackson, Etti and Edu

Year: 2024

Country: Nigeria

Client: Sahel Capital

Value: About 1 Billion Naira

Industry: Agriculture

Structure: Trade Finance

Team: Folasade Olukoya, Adekunle Soyibo.

Concession of $1.3billion Zungeru 700mw Hydro Power Plant Located in Zungeru, Niger State.

Firm: Olajide Oyewole LLP

Year: 2024

Country: Nigeria

Client: Mainstream Energy Solutions

Value: 1.3 Billion Dollars

Industry: Renewable Energy

Structure: Hydropower funding

Team: Dayo Idowu, Taiwo Peregrino, Oluyemi Oyewole, Oluwamayowa Daodu, Chidinma Iwunze.

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