The desk has facilitated a Guarantee & Working Capital facility for USD 54 Million from a Nigerian bank for one of the largest Global EPC contractors with its Head Office in Middle East. The facility was utilised by the Group’s Nigerian subsidiary that had an objective of providing turnkey solutions to projects on the African continent. The Nigerian entity had won an award from one of the largest Petroleum Refinery and Petrochemicals companies based out of Nigeria wherein the scope of work was to provide a turnkey solution for building a tank farm with the total project cost of USD 120 Million

The facility was utilized to meet requirements of various types of guarantees (Performance/ Advance/ Retention) in order to fulfil the conditions in the EPC contract awarded to the company. The facility was secured against the Assignment of Cash Flow from the project and Corporate Guarantee of the Group. We had concluded the transaction in a record time of 3 months, considering the complexity involved in the transaction.