Global law firm White & Case LLP has advised the Joint Lead Managers, Citigroup Global Markets Limited and Goldman Sachs International, in connection with Access Finance B.V.’s issue of U.S. $350 million 7.25 per cent guaranteed notes due 2017. The notes are guaranteed by Nigerian bank Access Bank PLC, with the proceeds being used, in part, to support the Nigerian oil & gas and power sectors.
“Access Bank is only the second Nigerian bank to successfully complete a 144A bond and this launch proves, despite challenging market conditions, that the markets are receptive to the right debt offering,” said Stuart Matty, partner, White & Case. “The Firm has strong experience and a proud track record of working in Africa which includes advising on every London listed Nigerian deal in the last five years.”
White & Case has been at the forefront of the developments in Sub-Saharan Africa, advising clients on pioneering transactions for more than 30 years. In the debt securities markets the Firm has acted on debut sovereign bond issuances for the Gabonese Republic, Namibia, Nigeria and Senegal, the US$1 billion MTN program for the Eastern and Southern African Trade and Development Bank (PTA Bank) and Nigeria’s Guaranty Trust Banks debut Eurobond issue, the first ever corporate bond issue in Nigeria.
The White & Case team was led by partners Stuart Matty and Melissa Butler, supported by associates Yinka Osoba, Michal Amir and Josh Van der Ploeg, all based in London.
