Banwo & Ighodalo has probably the strongest reputation in capital markets and banking and is the firm of the moment across the board. "In terms of equity markets they are one of the leading firms, virtually all capital markets transactions are done through them," says one client....
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Banwo & Ighodalo has probably the strongest reputation in capital markets and banking and is the firm of the moment across the board. "In terms of equity markets they are one of the leading firms, virtually all capital markets transactions are done through them," says one client.
Banwo "has been excellent ... quality at a global standard" says one client. "They are extremely good at relationship management, looking at projects holistically and pre-empting risks and issues," says another client, adding: "The difference is personal attention – looking at an overall transaction and winning over the other side. Banwo sees themselves as counsel to the project, not just the client".
The firm acted for Lagos State, Ecobank, Starcomms, Aquitaine Oil & Gas and First Aluminium Nigeria, among others, on high-value debt, bond and rights issues, as well as capital raising exercises and private share placements. The firm advised Guaranty Trust Bank Finance on a $2 billion MTN programme and Dangote Industries on a $1.23 billion note issuance facility through a syndicate of banks.
The firm worked on two high-profile mergers which did not materialise, advising Zenon Oil on a merger with African Petroleum, and Sterling Bank in an aborted merger with Africa's largest bank, Ecobank. In oil and gas, the firm assisted Acorn Petroleum on a $35 million tank farm acquisition from a west African bitumen company.
Project finance saw the firm advise Mainstreet Technologies on a $240 million construction and maintenance deal for a sub-marine fibre optic cable connecting Nigeria and Ghana to Portugal. Banwo & Ighodalo lawyers also represented Persianas Properties for the $800 million development of the Palm's shopping mall and hotel.
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