PR@ITRealms:
FBN Capital Limited (a
subsidiary of FBN Holdings Plc) acted as Joint Mandated Lead Arranger and
financial modeling bank for the Corporate Facility to part-fund purchase of Conoco
Phillips’ participating interest in OMLs 60, 61, 62, 63, 131 and 145 by Oando
Energy Resources. The total consideration for the acquisition of approximately US$1.6
billion was financed via a combination of debt and equity, with the debt
portion of the acquisition facility comprising of a US$450 Million RBL Facility
provided by both Nigerian and offshore banks; and a US$350 Million Corporate
Facility provided by Nigerian banks.
The funds were provided by First Bank of Nigeria, Diamond Bank,
FCMB, Ecobank, Zenith Bank, UBA, Vitol and Enterprise Bank. Other financial
parties to the transaction include FBN Trustees as Security Agent; First Bank
of Nigeria as Hedge Provider; and FCMB Capital Markets also as Joint Mandated
Lead Arranger.
Speaking on the award, the Managing Director of FBN Capital Mr.
Kayode Akinkugbe said, “We are very pleased to have won this award, and remain inspired
by the trust our clients place in us to help them achieve success. We will continue to strive to raise the bar
on industry standards with regards to deal-making and structuring.”
Patrick
Mgbenwelu, the Director and Head of Debt Solutions at FBN Capital also expressed his pleasure on winning the award; “We feel
honored to be recognized for the effort that the client, every member of the
team, as well as every party to the transaction put into making this deal a
reality”.
The IJGlobal Europe & Africa Awards event
is the most prestigious night of the year in the infrastructure calendar as it
is a celebration of best-in-class deals in energy and infrastructure over the previous
year, uniting over 600 of the industries finest.
+Oreoluwa Ettu +Remmy Nweke (ITRealms) +FBN Capital Limited
ITREALMS ... delivering news for ICT4D
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