Bank of Industry’s $1 Billion Term Loan Facility

Bank of Industry's $1 Billion Term Loan Facility

White & Case LLP and G. Elias & Co advised Bank Group on the deal.

Afreximbank and Credit Suisse acted as co-ordinators, Afreximbank, Credit Suisse, FirstRand Bank, Sumitomo Mitsui Banking Corporation and Africa Finance Corporation acted as mandated lead arrangers and bookrunners, and The Export-Import Bank of China acted as mandated lead arranger on a US$1 billion term loan facility signed December 11, 2020 for Bank of Industry Limited, Nigeria.

The financings benefit from credit support from the Central Bank of Nigeria.

The Bank of Industry is Nigeria’s oldest, largest and most successful development financing institution with a mandate to enable development in Nigeria’s industrial sector.

The White & Case team in London which advised on the transaction was led by partner James Hardy (Picture) and included associate Juanita Derex-Briggs.

Nigerian law advice was provided by a team at G. Elias & Co led by partner Fred Onuobia.

Involved fees earner: Fred Onuobia – G. Elias & Co; Juanita Derex-Briggs – White & Case; James Hardy – White & Case;

Law Firms: G. Elias & Co; White & Case;

Clients: Africa Finance Corporation; African Export-Import Bank; Credit Suisse; Export-Import Bank of China; FirstRand Bank; Sumitomo Mitsui Banking Corporation;