Banking, Finance & Insolvency

In connection with its interest in Ethiopia’s financial leasing sector.

In connection with a USD 1.2 billion financing to the Government of Tanzania through the Ministry of Finance and Planning.

In connection with their syndicated financing of USD 40 million to Sugar Corporation of Uganda for the construction of a 25MW co-generation power plant.

In connection with its provision of mezzanine finance of USD 100 million to Quantum Power International Holdings, a diversified company with interests in several growth industries, including structuring various security interests on the Quantum entities incorporated in Mauritius.

In connection with debt financing for the construction of a new international airport at Bugesera in Rwanda.

In connection with the Scaling Solar Project that aims to generate 500MW Solar Energy power in Ethiopia on an IPP basis.

In connection with the acquisition of a 13.8% stake in Britam Holdings, a Kenyan listed insurance and asset management group with operations in Kenya, Tanzania, Uganda, Rwanda, Malawi, South Sudan and Mozambique, from Plum.

In connection with its borrowing of USD 180 million from IFC, African Development Bank, KFW, Belgian Investment Company for Developing Countries NV/SA, Equity Bank and FMO in order to finance the rehabilitation, improvement and completion of railway facilities.

In connection with two separate vendor financing arrangement that they had with Ethio-Telecom.

In connection with a EUR 1 billion term loan facility to the Bank of Industry (“BOI”), Nigeria. This was the largest loan that BOI has ever taken.

In connection with USD 115 million financing of the IPT Powertech Group in Lebanon, the Republic of Guinea and Nigeria.

In connection with the provision of USD 195 million multi-jurisdictional syndicated debt facility to the Smile Group of companies dealing with 4G LTE broadband networks, in Tanzania.

In connection with the acquisition of 62% of the shares of Banque Populaire du Rwanda and 100% of African Banking Corporation in Zambia, Tanzania and Mozambique, from Atlas Mara, a financial services company listed on the London Stock Exchange, through a share swap, and a subsequent merger of banking entities in Rwanda and Tanzania.

In connection with its expansion and upgrade program in Ivory Coast, Senegal, Mali and Guinea, including advising on the structure of the transaction; drafting and duplicating OHADA law security documents.

In connection with a pre-export forward sale transaction to finance the Nigerian National Petroleum Corporation (NNPC) and Chevron oilfield developments for the national gas-to-power programme.

In connection with three separate financing arrangements with the Government of Zambia for various projects undertaken by ZESCO, a state-owned power company in Zambia.

In connection with a USD 100 million development finance to Zesco, a public power utility in Zambia.

In connection with its financing of two Solar Power Stations in Eastern Uganda, under the GETFiT programme.

As agent, bookrunner and initial mandated lead arranger in connection with USD 400 million term loan facility to the Eastern and Southern African Trade and Development Bank.

Our Banking, Finance, and Insolvency teams have knowledge of advising in the financing of agribusiness. We provide comprehensive legal support for transactions that contribute to regional food security and agricultural development. 

The ALN firms’ expertise includes mezzanine financing for expanding floriculture assets, such as the acquisition and development of farms to boost flower production. We also advise on financing for farming companies aimed at facilitating production expansion and capital expenditures, and on transactions involving the acquisition of stakes in farms to enhance processing and distribution capabilities. This support ultimately fosters increased agricultural productivity and establishes vital market linkages for farmers.

We are experienced in aviation finance, providing expert legal counsel on a wide array of transactions within the aviation sector. Our services encompass drafting and negotiating aircraft lease documentation, offering regulatory advice, and assisting with obtaining necessary approvals from civil aviation authorities. 

We handle the sale and lease of aircraft, including addressing associated tax issues and undertaking aircraft registration with relevant registries. We are proficient in managing de-registration processes for aircraft with civil aviation authorities following sales and exports. 

ALN firms also provide support for lending facilities for aircraft purchases, including drafting security documentation and managing regulatory notifications. Our expertise extends to reviewing aircraft finance lease agreements, providing local law and general regulatory advice, and assisting with negotiations for aircraft purchases and subsequent leasing. Furthermore, we manage the registration of aircraft leases and mortgages with the relevant authorities.

ALN offers a robust and established practice in insolvency and debt restructuring, working at the forefront of understanding and contributing to the relatively new insolvency regime. We regularly handle complex insolvency matters, advising clients on various options, including restructurings, administrations, receiverships, liquidations, and voluntary arrangements. 

Our expertise includes providing guidance to all stakeholders involved with financially distressed businesses, such as debtors, issuers of public and private securities, various types of creditors, equity holders, new investors, boards of directors, and senior management teams. We are adept at handling complex restructuring and realignment of financial frameworks for clients and our associated entities, including the transfer of lender exposure and the amendment and restatement of loan terms. 

Furthermore, we provide critical advice on the release of securities, drafting discharge of charges and release deeds, and structuring financial undertakings to adequately protect banks’ interests during these processes. Our team helps in structuring transactions to manage the interests of multiple parties with diverse objectives.

ALN firms have extensive experience advising governments on sovereign debt and international bond issues. We have acted as legal advisers to various governments, for example, in Kenya, in the issuance of international sovereign bonds, including those simultaneously listed on major international exchanges. We possess expertise in advising on large-scale sovereign debut debt issues. 

Furthermore, we advise international financial advisors on regulatory challenges related to launching sovereign sukuk and recommend necessary legislative changes to facilitate such issuances. Our services also include advising on sovereign debt borrowing for specific acquisitions.

ALN firms’ banking, finance, and insolvency practice is highly proficient in handling syndicated debt financing, including transactions governed by the Loan Market Association (LMA) documentation. We regularly represent multinational lenders, financial institutions, and corporations in a wide array of financial transactions, specifically those involving syndicated financing and bilateral loan transactions. 

Our team has significant experience acting for syndicate lenders in connection with large facility amounts, advising on the structuring of facilities with multiple banks, conducting thorough due diligence, and providing expert counsel on suitable security structures. We are skilled in negotiating intercreditor and security sharing agreements, ensuring clarity and protection for all parties involved. We advise on financial undertakings from acquiring entities, ensuring robust protection throughout complex transactions.

We offer legal services in asset financing transactions, enabling clients to secure and perfect assets effectively. ALN firms assist with the negotiation and advising on term sheets and borrowing terms, and the review and negotiation of facility agreements. 

A key area of expertise includes the preparation of movable assets security agreements and facilitating registration in registries, which provides lenders with certainty regarding enforceability, validity, and priority of security. 

Our team’s capabilities extend to advising on the intricacies of creating and perfecting security across various jurisdictions, including in the UAE. This includes expertise in taking security over foreign bank accounts and commodities located in foreign jurisdictions, as well as navigating the specific country law nuances pertaining to the perfection and enforcement of security over movable assets. We also advise on the acquisition, financing, and mortgage of vessels.

Our banking, finance, and insolvency practice is deeply engaged with the rapidly evolving financial technology sector, demonstrating a keen interest in developments such as digital currencies and cryptocurrencies. Our expertise includes advising on the regulation of cryptocurrency and cross-border money remittance licenses, navigating the intricacies of payment systems, including licensing, compliance, and system requirements.

We offer guidance on the legal and regulatory regimes governing payment service providers and the trading in foreign exchange, as well as the use of local partners in remittance businesses. ALN firms also advise on the provision of e-loan services through new product offerings, mobile finance solutions, and customer management tools. 

Our team supports investments in mobile money operations and assists companies that provide digital asset market solutions targeting small and medium-sized enterprises across Africa and the Middle East.

Our teams possess deep expertise in project finance, supporting complex, large-scale developments across various sectors including energy, infrastructure, financial services, real estate, construction, hospitality, and telecommunications. Our services cover the entire project lifecycle, from initial structuring to financing arrangements. 

We advise on financing for significant construction projects, including the review of project and financing agreements, drafting crucial escrow and security documents, and providing strategic counsel on optimal financing structures. We also have experience acting as lead counsel for development financing of critical infrastructure, such as:

• Power generation and transmission, including thermal power and various forms of renewable energy such as solar, hydro, wind, and geothermal. 
• Infrastructure, including roads, ports, railways, airports, waste management, cold storage facilities, and social infrastructure such as mixed-use developments, as well as mining and metals, water, and telecommunications infrastructure, including towers. 
• Oil and gas, including liquefied natural gas (LNG).

Our multidisciplinary approach ensures that all legal aspects of project development and financing are addressed.

ALN firms understand legal and regulatory requirements for Islamic financing. We have extensive experience in this area, including advising on a wide range of Sharia-compliant instruments such as Murabaha, Ijara, Sukuk, Musharaka, and Diminishing Musharaka, as well as structuring secure financing frameworks that align with both Islamic principles and local law. 

This involves drafting core facility and security documents, such as master agreements, agency and declaration forms, Sharia-compliant debentures, and profit-sharing structures. The work also includes supporting the establishment of Islamic banking windows, developing regulatory-compliant documentation, and guiding institutions on innovative legal mechanisms to harmonise Islamic finance with conventional legal systems, particularly in emerging markets.