Commentators consistently rate Jackson Etti & Edu in banking. It regularly acts for Standard Chartered UK and Skye Bank and it clinched some key M&A transactions in the banking sector, most notably for Intercontinental Bank and Diamond Bank....
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Commentators consistently rate Jackson Etti & Edu in banking. It regularly acts for Standard Chartered UK and Skye Bank and it clinched some key M&A transactions in the banking sector, most notably for Intercontinental Bank and Diamond Bank.
A client for a refinancing with "very tight deadlines" says "they did very well representing the lenders locally... impressive, good timeline, strong relationship management - we hired them subsequently as overall counsel replacing [the international counsel]". Owolabi Odekunle and Fola Olusanya are both recommended by clients.
Odekunle advised Standard Chartered on a $96 million revolving loan and credit facility to Oando Trading and on a $100 million short term trade finance facility to Skye Bank. Koye Edu led a team to assist First Bank, First Bank Nigeria (FBN) UK, Guaranty Trust Bank (GTB) and Skye Bank on a $120 million refinancing to a telecoms project company while Olusanya acted for Standard Chartered on a $100 million loan to United Bank of Africa.
In M&A, Edu and Olusanya were engaged by Intercontinental Bank on a recapitalisation and $1 billion sale to Access Bank, while Olusanya was leading a team to support Diamond Bank in the $30 million divestment of Diamond Capital and Financial Markets and subsidiaries following Central Bank directives.
In capital markets, Edu closed a novel transaction helping mortgage lender Aso Savings & Loans structure and issue a $66 million securitised bond. Olusanya also advised Afromedia and Skye Financial Services on respective $66 million bond issuance and Reit (real estate investment trusts). In project financing, the firm acted for Skye Bank in a $149 million financing from Skye Bank, Sterling Bank and GTB to Pan Ocean Oil Corporation.
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