Sebalu & Lule made the headline story in the Ugandan legal market with its association with DLA Piper. "It can only be beneficial," says a peer, "they will be able to tap into greater expertise"....
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Sebalu & Lule made the headline story in the Ugandan legal market with its association with DLA Piper. "It can only be beneficial," says a peer, "they will be able to tap into greater expertise". The firm also consolidated its regional ties by founding the Juris East Africa network along with Kenyan firm Iseme Kamau & Maema Advocates (IKM).
The networks have already paid dividends, with them working alongside IKM on the cross-listing of the Nation Media Group on the Uganda Securities Exchange in October 2010.
In December 2010, Barnabas Tumusingize and Brenda Ntambirweki advised Standard Chartered Bank Uganda on its $17 million medium-term bond issue listed on the Ugandan Stock Exchange. The listing was fully subscribed and marked one of the biggest bond issues in recent times. The pair also worked for East African Development Bank on a $3 million loan to a domestic commercial bank which, although a small deal by value, stands out because it incorporates the place of a charge on government treasury bills as collateral. This had not been done before consequently covered several novel concepts of law during the drafting and closing process.
Tumusingize and James Mukasa Sebugenyi assisted Electromaxx, with closure expected in mid-2011, on a $35 million project financing from Stanbic Bank to increase the capacity of a thermal plant from 20MW to 50MW, being the first wholly locally financed project in the energy sector.
Nicholas Ecimu led a team with Joseph Luswata and Ntambirweki to act for the Dutch FMO and German DEG on a $25 million financing to Bujagali Energy for the completion of the Bujagali II hydro-power project. The firm has originally advised on the $700 million syndicated financing for the project.
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