The UUBO Banking and Finance team is pleased to have acted as Nigerian Counsel to Rand Merchant Bank South Africa (“RMB SA”) in connection with a secured on-lending transaction in an aggregate sum of up to USD100,000,000 (one hundred million United States Dollars) and an underlying structured finance element involving RMB SA (as a Participant) and International Finance Corporation (as a Lender) and Plover S.À R.L. (as a Borrower). The structured finance element involved the Borrower utilising the funds to finance its transaction obligations under a Total Return Swap with a Nigerian counterparty and the creation of security over certain assets, including debt securities domiciled in Nigeria.
The UUBO team was led by our Banking and Finance Partner, Onyinye Okafor, and included Pamela Onah, a Senior Associate in the Banking and Finance team, and Itoro Uwemedimo Etim, an Associate in the Banking and Finance team.
For more on UUBO’s banking and finance practice and other practice areas, please contact us at uubo@uubo.org and visit www.uubo.org .
