Banking, Finance and Restructuring Team of the Year: Baker & McKenzie – African Legal Awards 2015
Bakers scoops award for advising a syndicate of lenders on one of Africa's largest commodities financing transactions
November 25, 2015 at 06:51 AM
2 minute read
Finalists
Allen & Overy
Baker & McKenzie
Bowman Gilfillan Africa Group
Freshfields Bruckhaus Deringer
Hogan Lovells
Mayer Brown
Norton Rose Fulbright
Oxford & Beaumont
Shearman & Sterling
Winner: Baker & McKenzie
Baker & McKenzie's work advising a syndicate of lenders on one of the largest commodities financing transactions of the year won it the accolade of Banking, Finance and Restructuring Team of the Year.
The team advised on a landmark loan to support African manufacturing and export capabilities to the African Export-Import Bank. The loan from 34 lenders, which included Arab Banking Corporation, Commerzbank, and HSBC among others, comprised a tranche of $458m (£303m) and a second €406.5m (£323m) facility. The diversity of lenders introduced an additional level of complexity to the deal.
In addition to the initial closing, Bakers was also instructed on the subsequent syndication which involved an even larger lending pool and additional legal complexities. Michael Foundethakis, Paris and EMEA head of banking and finance, led the team, which included lawyers from Bakers' Paris and Cairo offices.
Hogan Lovells advised the African Export-Import Bank.
"Thanks to the firm's extensive network of expertise across the globe," said one of the judges, "it was able to manage a large and important African transaction."
Pictured left to right: Bridgett Majola, Baker & McKenzie, and awards judge Gail Evans, group legal advisor and company secretary, Steinmuller Africa
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