PUC has a wealth of experience in managing and advising Clients on project finance, having worked on different projects as counsel to the project company or sponsors, lenders, guarantors, and other relevant financial interest groups.
The projects we have worked on range across most subsectors of the Nigerian economy, and include debt and equity financing, Greenfield and Brownfield projects finance, PPP arrangements and financing, aircraft acquisition financing, infrastructure financing, ship financing, communications projects financing, power projects financing, and oil & gas projects financing.
In managing our Project Finance deals, we develop customised transaction structures, and legal documentation to align with the peculiarities of each project, as well as our clients’ objectives.
US$386,000,000.00 188MW GPL Integrated Power Project
Legal Consultants to Geometric Power Limited, a pioneer Independent Power Producer (IPP) in Nigeria (which was adopted by the World Bank and the International Finance Corporation) and its subsidiaries on its US$386,000,000.00 Greenfield 188MW gas fired integrated power project, structured on a ring-fenced island-mode, with a 27-kilometer pipeline to transport natural gas to the power plant from inception.
US$790million Purchase of Downstream Assets of Chevron Africa
Sole Lenders’ Counsel to a consortium comprising First City Monument Bank PLC, Fidelity Bank PLC, Union Bank of Nigeria PLC, Zenith Bank PLC, Oceanic Bank International PLC (now part of Ecobank Nigeria PLC), former Bank PHB, Intercontinental Bank PLC (now Access Bank PLC), for the sale and purchase of the assets spread across 6 African countries namely, Cote d’Ivoire, Benin Republic, Togo, Congo, Cameroun and Nigeria. The assignment involved drafting and negotiating all the finance documents, and the conduct of due diligence on not less than 10 companies located in multiple jurisdictions, and involved in the project as borrowers and guarantors.
N61,000,000,000.00 Katampe PPP Project Financing
advised on, negotiated, prepared and reviewed documentation for, and conducted
legal due diligence on an integrated civil infrastructure and development of
777 hectares of land within the Katampe District of Nigeria’s Federal Capital
Territory (FCT), Abuja, on behalf of the Lenders comprising First Bank of
Nigeria PLC, First Trustees Limited, Ecobank Nigeria PLC, Kakawa Discount House
Limited, Unity Bank PLC, and FBN Capital Limited. This is reputed to be the
foremost Public-Private Partnership (PPP) infrastructure project in the FCT,
valued at over
US$76,047,536.00 US-Exim Bank guaranteed financing by PEFCO
Transaction Counsel to Union Bank of Nigeria PLC in its role as a Lender/Borrower in respect of a US$76,047,536.00 US-Exim Bank-guaranteed, on-lending loan facility granted by Private Export Funding Corporation (“PEFCO”) of USA to the bank, and structured as a commercial loan to Arik Air Limited, for financing the purchase of three (3) Boeing 737-700 aircrafts.
US$76,500,000.00 US Exim Bank-guaranteed Bridge Loan Facility
Nigerian Counsel to African Export-Import Bank (AfreximBank) in respect of a US$76,500,000.00 US Exim Bank-guaranteed, bridge loan facility, granted to Arik Air Limited, a leading Nigerian airline, for the purpose of financing the purchase, repurchase and subsequent refinancing of two (2) Boeing 737-800 aircrafts.
US$134,000,000.00 European Export Credit Agencies Funded On-Lending Transaction
Transaction Counsel to Union Bank of Nigeria PLC in respect of a US$134,000,000.00 loan facility arranged by HSBC Bank, and funded by a consortium of European Export Credit Agencies (EECA), in furtherance of a commercial on-lending loan provided by the Bank to Arik Air Limited for the purchase of an Airbus A340-500 aircraft.
US$132,000,000.00 Syndicated Financing for Main One
Sole Nigerian Transaction Counsel to a syndicate of commercial banks and International Development Finance Institutions, including African Development Bank and Deutsche Investitions-undEntwicklungsgesellschaft mbH, in respect of a US$132,000,000.00 syndicated financing facility granted to Main One Cable Company Limited, for the First Phase of the development, ownership, construction, commissioning, and maintenance of a 12,378 kilometre submarine optic fibre cable, with landing stations in Lagos, Ghana, and Portugal.
Us$164,000,000.00 Telecoms Infrastructure Finance
Nigerian Transaction counsel to a consortium of Nigerian Banks including First City Monument Bank PLC, Guaranty Trust Bank PLC, and Fidelity Bank PLC, in the US$164,000,000.00 financing granted to Helios Towers Nigeria Limited, a leading telecommunications infrastructure service provider for the construction and operation of co-location towers and infrastructure. PUC drafted and negotiated the finance documents, advised on regulatory matters relating to co-location, and was responsible for post-closing issues including stamping and registration of the security documents, and other perfection requirements.