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Global Guide
Department Profile

Banwo & Ighodalo Banking & Finance Department

Nigeria

  • Profile
  • 98 Awolowo Road
  • Southwest Ikoyi
  • Lagos
  • Lagos
  • Nigeria

Department profile submitted by Banwo & Ighodalo

We are well known for our mastery of legal issues, development of creative solutions, and delivery of timely and practical advice.

The team has extensive experience and expertise, in corporate and project finance transactions and regularly advises various local and multi-national corporate entities, local and international financial institutions, regulatory authorities, supranational bodies, governments and government agencies on various domestic and cross border transactions, involving secured, unsecured, multi-currency, bilateral and/ or syndicated lending arrangements etc.

Over the years the team has also built a solid reputation in advising on structured and trade finance deals and derivatives.

Our consistent out of the box thinking has also led us to advise on complex pioneer restructuring transactions involving spin-offs and dispositions, debt to equity swaps, securitizations, debt restructuring, demergers and re-organisations, and all forms of corporate and capital restructurings.

Our lawyers also work with other teams in the of the firm, e.g. Capital Markets, and Mergers & Acquisitions, to structure and facilitate the successful consummation of transactions.

The team routinely advises on compliance with banking and regulatory legislation and assisted the Central Bank of Nigeria in drawing up the Banking Consolidation Guidelines. We also facilitated the successful implementation of the consolidation within the banking industry between 2004 and 2006.

Industries

  • Banks
  • Commercial & Professional Services
  • Construction & Materials
  • Energy
  • Financial Services
  • Food & Drink Producers
  • Private Clients / Individuals
  • Real Estate Finance
  • Real Estate
  • Telecommunications
  • Transportation
  • Government

Clients

  • African Development Bank
  • African Finance Corporation
  • BNP Paribas (Suisse) SA
  • Chevron Nigeria Limited
  • Dangote Group
  • Deutsche Bank AG
  • Emerging Markets Telecommunications Services Limited
  • Goldman Sachs
  • MainOne Cable Company Limited
  • Natixis Bank
  • Niger Delta Petroleum Resources Limited
  • Nigerian Breweries PLC
  • Nigerian Bulk Electricity Trading PLC
  • Nigerian Gas Company
  • Nigerian National Petroleum Corporation
  • Overseas Private Investment Corporation
  • Petrobras Oil & Gas B.V.
  • Rand Merchant Bank Limited
  • Shoreline Natural Resources Limited
  • Stanbic IBTC Bank PLC

Our cross-border reach may be seen across various transactions in which we have advised including our role as:

  • Counsel to Dangote Group with respect to a US$3.150,000,000 (Three Billion One Hundred and Fifty Million United States Dollars) corporate finance facility advanced for the development of a fertilizer plant and the largest oil refinery in the West African sub-region. At the time, the deal was the single largest corporate finance transaction in the West African sub-region.
  • Nigerian Lenders’ Counsel to a syndicate of Nigerian and international banks in connection with a Reserve Based Lending and Corporate Facility of up to US$1,700,000,000 (One Billion Seven Hundred Million United States Dollars) advanced to the Seplat Group. 
  • Counsel to Shoreline Natural Resources Limited in connection with two bridge facilities in a total sum of US$765,000,000 (Seven Hundred and Sixty Five Million United States Dollars)  and a Guarantee Facility in the sum of US$765 000,000 (Seven Hundred and Sixty Five Million United States Dollars) obtained from J.P. Morgan Chase Bank and Standard Bank to part finance and guarantee Shoreline Natural Resources Limited’s acquisition of a combined 45% participating interest in OML 30 from the Shell Petroleum Development Company, Total E&P Nigeria Limited and Nigerian Agip Oil Company
  • Nigerian Lenders’ Counsel to a syndicate of banks in connection with a US$700,000,000 (Seven Hundred Million United States Dollars) reserve based lending facility to Petrobras Oil & Gas B.V with an accordion for an additional $700,000,000 (Seven Hundred Million United States Dollars).
  • Structuring and implementation of a US$240, 000,000 (Two Hundred and Forty Million United States Dollars) sub-sea fibre-optic telecoms cable with proposed landing points in Europe, Ghana and Nigeria and tailed for extension to Southern Africa. This deal won the Euromoney Project Finance Magazine’s 2009 African Communication Deal of the Year
  • Lenders’ Counsel to a syndicate of Banks in connection with a US$350,000,000 (Three Hundred and Fifty Million United States Dollars) corporate finance facility advanced to Oando Energy Resources Inc. to part-finance the Oando Group’s acquisition of ConocoPhillip’s Nigerian oil and gas assets
  • Counsel to Shoreline Natural Resources Limited in connection with a US$600,000,000 (Six Hundred Million United States Dollars) senior secured revolving reserve based lending facility advanced by Standard Bank and its syndicate of co-lenders
  • Nigerian Lender’s Counsel to OPIC with respect to a US$15,000,000 (Fifteen Million United States Dollars) loan facility made available to Txtlight Power Solutions Limited to finance the manufacture and sale of solar electricity panels to rural communities and small businesses in Nigeria.
  • Nigerian Lenders’ Counsel to the African Development Bank in relation to a US$150,000,000 (One Hundred and Fifty Million United States Dollars) line of credit facility advanced to United Bank for Africa Plc for the purpose of on-lending to various infrastructural projects as well as small and medium sized enterprises.
  • Nigerian legal Counsel to the African Development Bank in relation to a $100,000,000 (One Hundred Million United State Dollars) loan facility advanced to Access Bank Plc for the purpose of on lending to Nigerian small and medium scale enterprises operating within the agriculture and agribusiness sector of the Nigerian economy
  • Lenders’ Counsel to Vitol S.A. in connection with a US$40,000,000 (Forty Million United States Dollars) term loan facility advanced to Oando Resources Limited.
  • Lenders’ Counsel to Bank of Beirut (UK) Limited in connection with an up to US$20,000,000 term loan facility to be made available to Eko Hotels Limited