Fasken advised the Mauritius Commercial Bank Limited on the successful closing of its secured term loan to Oando Resources Limited. The facility amount at closing is $30 million, which may be increased to $50 million upon satisfaction of certain conditions.
The security package, consisting of Mauritian and English law governed security, includes a pledge over bank accounts and an assignment over a crude marketing sales agreement. Fasken’s role included drafting all English law finance documents and reviewing all other agreements, including the marketing sales agreement and offtake contract.
The team was led by Abayomi Akinjide and included Thomas Wexler and Laura Bradley.
The security package, consisting of Mauritian and English law governed security, includes a pledge over bank accounts and an assignment over a crude marketing sales agreement. Fasken’s role included drafting all English law finance documents and reviewing all other agreements, including the marketing sales agreement and offtake contract.
The team was led by Abayomi Akinjide and included Thomas Wexler and Laura Bradley.
Jurisdiction
- Nigeria
