MMC Africa Law is renowned for its broad banking transactional, regulatory and operational practice. The Property and Banking Department constantly advises major Clients in the region on a full range of banking and financial law issues confronting the industry. One of its most significant work in the banking industry is the development of the Compliance Manual which provides a compliance structure on the operations, processes and documentation required in the industry.
The firm advises these banks and financial institutions on the structuring of financial products, secured lending, securities perfection and asset financing. The firm also conducts due diligence on banking securities. As part of the firm’s value addition, we offer training on the legal framework in land use and planning, Reits, securities perfection and emerging issues in the banking and finance industry such as mortgage and asset backed securities.
The Firm is also involved with other financial institutions such as Shelter Afrique where we are advising on the structuring and financing of various developments within Nairobi.
Some of the transactions the Firm has handled include:
• Structuring and creating various securities to secure borrowings by one of the largest textile companies in Africa amounting to Kenya Shillings Three Billion, Five Hundred Million (KES 3,500,000,000/=) to finance the Group’s expansion and working capital.
• Structuring and creating various securities to secure borrowings by one of the largest millers in Kenya amounting to Kenya Shillings Three Billion (KES 3,000,000,000/=) to finance the Group’s expansion and working capital.
• Acting in various large corporate and project finance transactions for a bank client including the structuring and creating various securities to secure project finance for a manufacturing company amounting to Kenya Shillings Two Billion Four Hundred Million (KES 2,400,000,000/=).
• Acting in structuring a real estate project finance deal starting from land acquisition, joint venture/shareholder’s agreements and the financing agreements. The transaction value was Kenya Shillings One Billion, Three Hundred and Fifty One Million (KES 1,351,000,000/=) (Equivalent to USD 15,894,117.65).
• Legal transactional advisor to one of the leading companies on the development of an Asset-Backed security to raise approximately USD Four Hundred and Fifty Million (US$450,000,000) as funding for the 1,050 MW of a power Plant Project.
• Advising a client on securitization of corporate debt of USD. Two Hundred Million (US$200,000,000).
• Handling a syndicated facility transaction valued at USD Sixty Million ($60,000,000). The transaction was cross border as the funding was from various subsidiaries of a Nigerian Bank.
• Acting as the transactional legal advisor on a capitalization program (Private Placement and Loan Capitalization) to the tune of USD Five Million (US$5,000,000).
• Advising a bank client on several multibillion shilling financing transactions to various corporations in Kenya.
• Advising a bank client on the structure, operational and legal framework of mortgage backed securities an emerging trend in the banking and finance industry.
• Undertaking securities review on the various securities perfected in favour of bank clients and recommending the way forward to reduce the risk exposure to the respective banks in the event of recovery.
• Structuring and creating various securities to secure financing to various oil companies.
• Acting in syndications involving bank clients and other financial institute.
• Acting for various banks in complex takeover transactions.
• Acting for various banks in development of Compliance Manuals, for the use by the banks on all aspects of bank operations and processes, including prudential requirements.
• Currently undertaking a comprehensive securities review for a bank client including Debentures, Charge, Guarantees, Loan Agreements, Chattels and Hire Purchase Agreements.
• Developing security templates for clients.
• Conducting trainings on the Companies Act, 2015 and the Insolvency Act to a bank client and other financial institutions.
• Advising some of its clients on equity and debt investment.
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