17th October 2023
TEMPLARS Advises Nigeria Sovereign Investment Authorityand InfraCredit on Construction Finance Warehouse Facility
TEMPLARS have advised the Nigeria Sovereign Investment Authority (NSIA) and Infrastructure Credit Guarantee Company Limited (InfraCredit) on the establishment and launch of a Construction Finance Warehouse Facility (“CFW Facility”) which is targeted to pool up to N100 billion from a range of institutional investors.
The CFW Facility is designed to provide construction financing for eligible sustainable greenfield infrastructure projects that are backed by InfraCredit’s guarantees and that may be refinanced through the capital markets.
The primary objective of the CFW Facility is to help close the infrastructure deficit in Nigeria by addressing the funding gap experienced by project developers during the early stage or construction phase of strategic projects which often results in viable projects not achieving commercial operations.
The TEMPLARS team was led by Finance Partner, Desmond Ogba with support from Senior Associate, Osarugue Tracy Izekor, and Associates, Amadi Ijiomah and Elizabeth Toweh.