Banking & Finance

INTRODUCTION

Alliance Law Firm is a commercial law firm renowned for its ability to provide precise and commercially informed solutions in resolving legal or regulatory issues. Our team emerged Banking and Finance Team of the years 2019 and 2021 at the ESQ Nigerian Legal Awards. This practice area focuses on providing dispute resolution services as well as legal advisory services on issues pertaining to banking, financing/ refinancing transactions, infrastructure finance, project finance, asset finance, regulatory and compliance.

SELECTED INDICATIVE EXPERIENCE

• Advised an asset manager based in the United States with launching an investment fund of circa USD150 Million for financial institutions, enterprises and emerging markets in Nigeria with an exclusive focus on solving the global water and sanitation crisis.
• Acted as Transaction Solicitors to a Technical and Funding Partner in a Financing and Technical Service Arrangement for an OML to take over certain roles and responsibilities under a Joint Operating Agreement and to provide the required funding for the project in a USD 1.9 Billion deal
• Acted as transaction solicitors to AMCON in the acquisition of Eligible Bank Assets of three major banks operating in Nigeria valued at USD160 Million
• Provided legal and advisory services to AMCON in the restructuring of a USD160 Million facility owed by a major telecommunication company in Nigeria to commercial banks.
• Advised the funding entity on a USD 1.95 Billion secured financing in connection with the development and production of an oil mining lease under a Financing and Technical Services Agreement.
• Advised a Client on its USD 640 Million Senior Secured Medium-Term Facility restructuring.
• Advised Seplat Petroleum Development Company Plc (“Seplat”) on its over USD500 Million global IPO and dual listing of its shares on the Lagos and London Stock Exchanges.
• Advised Neconde Energy Limited (“Neconde”) in connection with a USD720 Million secured reserve-based lending from a syndicate of foreign and local banks.
• Advised Nestoil Limited on its USD 1.2 Billion Global Facilities Refinancing.
• Advised Emerging Markets Telecommunication Services (“9Mobile”) on its circa USD 400 Million senior secured facility from the Africa Finance Corporation.
• Advised a Client on its USD 400 Million Syndicated Facilities Refinancing.
• Advised a conglomerate on its USD400 Million real estate tower project in Victoria Island, Lagos.
• Acted as Transaction Solicitors to a Lender to provide bridge finance in the sum of USD 8.6 Million to a Borrower and its Gabon and Nigerian subsidiaries.
• Advised a Client on its USD 250 Million Syndicated Facilities Refinancing.
• Advised an indigenous conglomerate in connection with the negotiation of a USD242 Million facility from a Nigerian bank.
• Advised a London-based Bank on a USD225 Million facility to a Nigerian borrower for the acquisition of a jack-up rig from Asia.
• Advised a London-based Bank on the lending of the sum of USD80 Million to an EPC contractor in Nigeria for a pipeline project.
• Acted as legal advisers to a London-based bank in connection with USD40 Million finance to Fidelity Bank Plc.
• Acted as legal advisers to Dansa Foods Limited, a subsidiary company of the Dangote Group, in connection with a USD40 Million finance facility from the African Export-Import Bank.
• Advised the UAE subsidiary of a London-based international Bank in connection with the legal and regulatory framework governing the issuance of credit derivative products in Nigeria.
• Advised a London-based Bank on a USD225 Million facility to a Nigerian borrower for the acquisition of a jack-up rig from Asia.
• Advised Heritage Bank Company Limited in connection with its USD9.5 Million project finance facility for the building of an Independent Power Plant in Nigeria.
• Advised a Delaware-based green energy fund on its USD8.5 Million bridge facility to a renewable & hybrid energy service provider company in Nigeria.
• Advised a fund established in the Cayman Islands on its proposed investment of up to USD 1 Million in a company incorporated in Mauritius, which loan is to be utilised by the company’s Nigerian subsidiary
• Successfully defended a major Nigerian bank in a USD76.5 Million suit arising from the private placement of shares in a Financial Institution in Nigeria, and handling the appeals arising out of it. Representing a Nigerian bank in a suit filed by a telecommunication company claiming the sum of over USD11.8 Million in addition to declaratory and injunctive reliefs.
• Represented one of the largest indigenous energy groups and one of its major directors in an action challenging the directives of the CBN Bankers Committee compelling a Nigerian bank to transfer 911,000 Zain shares to its debtor-customer even though the current holders had prior to the directive purchased the shares for valuable consideration since 2004.
• Successfully defended a Nigerian bank in a USD131.6 Million class action filed by customers of the bank in connection with unauthorized ATM withdrawals.
• Represented a Nigerian Bank successfully at the High Court in an enforcement action filed by a civil construction company in connection with an order to transfer deposits in the sum of USD23.7 Million held by it to the Court’s Chief Registrar’s account pending the determination of the substantive suit.
• Advised a consortium of Nigerian lenders on a USD285 Million facility to a fabrication, galvanisation and steel rolling company.
• Advised an indigenous oil and gas operator on a NGN 4 Billion term loan facility from Zenith Bank Plc.
• Advised an indigenous oil and gas operator in connection with the negotiation of a USD242 Million term loan facility from a Nigerian bank.
• Acted as legal adviser to an indigenous E&P company in relation to a USD96 Million refinancing from a local and an international Bank with its principal office in Egypt.
• Acted as Counsel for the Securities & Exchange Commission (SEC) against two Nigerian banks participating in the merger of six banks that constitute the present-day Enterprise Bank Limited challenging the sale/transfer of 984,714,071 units of shares of Spring Bank Pie valued at about USD20.5 Million to entities connected to a named Bank in a controversial hostile take-over bid.
• Represented one of the major Nigerian banks and its subsidiary in a suit whereby a party sought a declaration that they are entitled to full allotment of13 million units of Zenith Bank shares which they applied for at the Bank’s last public offering of shares in addition to monetary damages .
• Represented a group of shareholders of two Banks in two representative actions against the CBN action in removing the executive management of the affected Banks without recourse to the Shareholders of the Banks.
• Advised a London-based Bank on the lending of the sum of USD80 Million to an EPC contractor in Nigeria for a pipeline project.
• Advised an indigenous conglomerate in connection with the negotiation of a USD242 Million facility from a Nigerian bank.
• Representing a commercial Bank in various cases involving a loan dispute with some of its customers which have a combined claim of about USD6.6 Million against it.
• Advised Neconde on a USD150 Million finance facility from a syndicate of African Finance Corporation, Access Bank Plc and United Bank of Africa Plc.
• Representing a commercial Bank against some litigants who sought the discharge of an Order of the lower Court ordering the Bank to transfer deposits in the sum of USD23.7 Million held by it to the Court’s Chief Registrar’s account pending the determination of the substantive suit.
• Acted as Solicitor to a major player in the downstream Liberian Oil sector in the USD60 Million financing advanced by Africa Finance Corporation (AFC) to enable the purchase by the Borrower of 100% shares in the Liberian and Sierra Leone subsidiaries of French oil giant, Total Energies.
• Acted as solicitor to a Noteholder in USD50 Million loan notes issuance issued by an issuer who operates in the energy sector to advance its market share and grow its operation in the energy sector.