Corporate and Project Finance

The Firm is actively involved in Securitisation and Real Estate Investment Trusts in Nigeria, which are generally and essentially a pooled investment scheme enabling investors to collectively invest mainly in real property transactions and few other investments. This pooled investment enables investors to benefit from the professional management skills of the fund manager, which professionalism they might not get via direct investment.

However, Austen- Peters and Co has continued to drive for the creation of an enabling environment for securitization transactions in Nigeria, in concert with other stakeholders and the necessary regulatory authorities, by organizing workshops and contributing to the rule and regulation making process of these authorities. The Firm is also active in many Capital Market Operator committees set up by the regulatory authorities to seek ways of improving the market. The Firm is currently advising a client on the securitisation of assets worth billions of Naira.

The Firm is currently acting as solicitors to the trustee in a 15,000,000 Real Estate Investment Trust to be launched soon.

The Firm is also involved in the other forms of Corporate and Project Finance, having successfully advised BNP Paribas in its extension of a US$180,000,000 Senior Crude Oil Pre-Export Financing Facility to Conoil Producing Limited and Continental Oil and Gas Limited, including the creation of security for the Facility, as well as advising and securitizing a further US$300,000,000 Senior Crude Oil Pre-Export Financing Facility to Conoil by the same bank. Likewise, we advised the former MBC International Bank Ltd (now merged with First Bank Plc) as arranger and participant in Syndicated Equipment Lease to Setraco Nigeria Limited and a Syndicated Term Loan to UACN Property Development Co Plc. The Firm has advised Standard Chartered Bank Nigeria as a participant in a N26, 000,000,000 Syndicated Loan to MTN Nigeria and is currently representing Moorhouse Properties Ltd in its development of Epe Health Farm and Spa Ltd - US$18,500,000 Timeshare Resort Project.

The Firm has also been involved in the recapitalisation processes in the banking and finance industry in Nigeria in the last couple of years, where it worked on the scheme of merger arrangement of some banks and insurance companies

The Firm was recently involved in the merger of Nigeria’s 2 largest insurances companies; and the acquisition of another major insurance company.