Our Banking & Finance practice group advises local and regional banks as well as international financial institutions. We have the leading local practice in asset finance in the aviation sector. We also structure and draft lending and security documentation for corporate lending transactions, including for structured finance and trade finance such as credit terms agreements, letters of comfort, guarantees and letters of credit. Our lawyers have diverse experience representing regional banks in large and complex cross border syndicated lending and securities arrangements. Our practice extends to debt capital markets, financial services and regulatory advice.

Our Banking & Finance team’s experience includes: 

• Advising for The Trade and Development Bank, a trade and development financial institution that operates in the COMESA economic community in a due diligence on a proposed a local licensed distributor and reseller of heavy equipment in relation to a USD 10M ECA backed loan. 
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a USD 1m secured revolving overdraft facility lending to a leading importer of liquified petroleum gas including, advising the lender on all aspects of the lending, preparing the facility agreement and the security package which comprised of the existing and new first ranking securities: an all asset debenture, the borrower’s holding company pledge over shares in the borrower, a charge over the borrower’s revenue accounts and corporate guarantees and indemnities issued by the borrower’s holding company and associated companies, and providing general closing services and liaising foreign counsel.
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a USD 3m secured term and revolving facilities lending to a leading grain miller and manufacturer of milled products including, advising the lender on all aspects of the lending, preparing the facility agreement, negotiating an interlender agreement and the security package which comprised of the following securities: a second further pari passu all asset debenture, a second further pari passu legal charge over various real estate properties, a first ranking pari passu specific asset debenture over various motor vehicles, a second further pari passu legal charge over shares in the borrower held by its holding company, negative pledges, and corporate guarantees and indemnities issued by the borrower’s holding company and associated companies, providing general closing services and liaising foreign counsel.
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a USD 4.3m secured revolving facility lending to a local commodities trader including, advising the lender on all aspects of the lending, preparing the facility agreement and the security package which comprised of the existing first ranking securities: an all asset debenture, a legal charge over shares in the borrower held by its holding company, negative pledges, and a corporate guarantee and indemnity issued by the borrower’s holding company and providing general closing services.
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a USD 25.3m secured term and revolving facilities lending to a leading bulk grain handling operator and its associated companies including, advising the lender on all aspects of the lending, preparing the facility agreement, negotiating an interlender agreement and the security package which comprised of the following additional securities: all asset debentures, pari passu legal charges over various real estate properties, pari passu specific asset debentures over various motor vehicles, negative pledges, and cross guarantees and indemnities issued by the borrowers (as members of the same group), providing general closing services and liaising foreign counsel in two jurisdictions.
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a USD 29.7m secured term and revolving facilities lending to a leading multi-product common user handling operator and its associated company, a renowned oil marketer  including, advising the lender on all aspects of the lending, preparing the facility agreement and the security package which comprised of existing and the following additional first ranking securities: a legal charge over various real estate properties, legal charges over the shares in the borrowers held by the holding company, and cross guarantees and indemnities issued by the borrowers (as members of the same group) and the borrowers holding company, providing general closing services and liaising foreign counsel.
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a USD 45.2m and KES 1.5b secured term and revolving facilities lending to a leading bulk liquified petroleum gas supplier including, advising the lender on all aspects of the lending, preparing the amended and restated facility agreement and the security package which comprised of existing and the following additional first ranking securities: all asset debenture, legal charges over various real estate properties, legal charges over the borrower’s revenue accounts, and guarantees and indemnities issued by the associate companies of the borrower (as members of the same group) and the borrower’s holding company, providing general closing services and liaising foreign counsel.
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a USD 129m secured term and revolving facilities lending to a leading to a leading bulk liquified petroleum gas common user handling operator and distributor including, advising the lender on all aspects of the lending, preparing the amended and restated facility agreement, discharging an existing charge over land and the security package which comprised of existing and a first ranking legal charge over a real estate property and providing general closing services.
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a USD 12.2m secured term facility lending to a high net worth individual (HNWI) including, advising the lender on all aspects of the lending, preparing the facility agreement and the security package which comprised of guarantees and indemnities issued by the HNWI’s personal holding companies, providing general closing services, and liaising foreign counsel.
• Acting for Equity Bank (Kenya) Limited, a leading financial institution in a KES 100m secured residential mortgage facility including, advising the lender on all aspects of the lending, preparing the facility agreement and the security package which comprised of a first ranking residential legal charge and providing general closing services.
• Advising Ascent Capital Advisory Africa LLP relating to Short Term Facility from I & M Bank
• Advising Terasteenus OU  on legal requirements to setting up a Micro Finance Company in Kenya
• Acting for Equity Bank Kenya Limied, one of the largest banks in Kenya, in connection with the preparation of various secrity documents to secure several revolving and term loans for USD 1,126,347 including the preparation of a facility agreement between the Borrower and the two lenders, a security trustee agreement between Equity Bank Kenya Limited, Equity Bank Uganda Limited and the borrower, a charge over a property in Kenya in favour of Equity Bank of Kenya as trustee for itself and charges over three properties in Uganda in favour of Equity Bank Uganda Limited as security trustee for itself and Equity Bank Kenya Limited.
• Acting in conjunction with Pinsent Masons in connection with financing to Bandwidth  and Cloud Group  Holding by  Finfund which financing is to rank pari passi to an existing senior debt by European Investment Bank (EIB) but superior to existing debt by Cordiant Capital including amending the facility Agreement ,EIB Loan agreement, the Cordiant Loan Agreement, amending the security trustee and intercreditor’ s agreement, preparing a further debenture a Kenyan law guarantee and a charge over shares and including registration of the securities at the companies and the collateral registries and the preparation of a legal opinion as to the validity and enforceability of the documents created.
• Advising Textron Aviation Finance in the finance leasing of a Bell Helicopter to a Kenyan operator
• Advising Export-Import Bank of the United States in relation to the engine financing realignment agreements for several Boeing Aircraft on lease to Kenya Airways PLC
• Acting for Africair Inc in the leasing of a Cessna aircraft to a Kenyan company, including conducting due diligence on the Kenyan company, reviewing the lease agreement, drafting and concluding all ancilliary documents, and personal guarantees of the directors of the Kenyan company .
• Representing Textron Aviation Financial Corporation and Cessna Finance Export Corporation in relation to the default of aircraft lease agreements by an aircraft operator, advising on the transfer of aircraft ownership, aircraft re-registration for six aircraft including liaising with aviation authorities for relevant clearances, drafting and reviewing aircraft transfer and re-registration documentation including ancilliary documents related to the transfer of ownership and re-registration of the aircraft.
• Acting for Africair Aviation Leasing LLC in the leasing of one Textron Aviation Inc. 208B aircraft to a Kenyan company, including conducting due diligence on the Kenyan company and its guarantors, reviewing the lease and subsequent lease amendment agreements and drafting all corporate authourisations needed effect the lease.
• Acting for Textron Financial Corporation in the leasing of one Textron Aviation Inc. 208B aircraft to a Kenyan company, including conducting due diligence on the Kenyan company and its guarantors, reviewing the lease and subsequent lease amendment agreements and drafting all corporate authourisations needed effect the lease.
• Acting for Textron Financial Corporation in the leasing of one Textron Aviation Inc. 208B aircraft to a Kenyan company, including conducting due diligence on the Kenyan company and its guarantors, reviewing the lease and subsequent lease amendment agreements and drafting all corporate authourisations needed effect the lease.
• Acting for Elix Assets 2 Limited in the leasing of one Bombadier Dash 8 -200 aircrfat to a Kenyan company, including review of all corporate authourisations needed effect the lease and attending to the registration of the client's interest with the International Registry of Mobile Aircraft Assets
• Acting for Textron Financial Corporation in the leasing of one (1) Cessna 680 aircraft to a Kenyan company, including conducting due diligence on the Kenyan company, reviewing the lease agreement, the related transaction documents and drafting all corporate authourisations needed to effect the lease.
• Acting for Elix Assets 7 Limited in the discharge of an aircraft engine mortgage securing promissory notes issued by mortgagor, including drafting the discharge of mortgage and related documents and attending to the registration of the discharge of mortgage at the Companies Registry
• Advising Cessna Finance Export Corporation on the termination of the existing sublease to Yellow Wings and new sublease to ALS Limited including to draft and provide any necessary Kenya Ancillary Binder documents, authorizing documents, execution of the termination of existing sub-lease and consent to sublease, to coordinate the re-registration of the aircraft to the new operator.
• Advising Apple Bank for Savings on the mortgage financing of a Bell 505 Ranger X Helicopter being acquired by Rai Cement Limited for private use
• Acting for Astral Aviation Limited in the leasing of a Boeing 767-200SF aircraft from Cargo Aircraft Management, Inc., including reviewing and negotiating the aircraft lease agreement, reviewing and drafting condition precedent documents, issuing a legal opinion, issuing an advisory relating to the aircraft lease agreement, the aircraft maintenance agreement and a side letter related to the aircraft maintenance agreement, reviewing an amendment to the aircraft lease agreement and an aircraft sublease agreement, and assisting in noting and registration of the parties interest in the aircraft with the relevant local register and the International Registry of Mobile Assets.
• Acting for Elix Aviation Capital Limited in connection with the preparation of an engine mortgage as security for promissory notes in the amount of USD 500,000.00 including drafting and negotiating the engine mortgage, condition precedent documents, advising on and undertaking registration of the engine mortgage at the companies registry
• Acting for Astral Aviation Limited on all Kenyan law issues on the leasing of a Boeing 757-232 aircraft, including reviewing and negotiating the aircraft operating lease agreement, drafting and reviewing condition precedent documents, issuing a legal opinion, and assisting in noting and registration of the parties interest in the aircraft with the the relevant local registers and the International Registry of Mobile Assets.
• Undertaking a comprehensive due diligence exercise on the Borrower, Rock Plant (K) Limited, a local licensed distributor and reseller of heavy equipment and its buyers/off taker contracts with a view to issuing a legal report to the client to enable it determine whether or not to lend to the Borrower.  Thereafter, should the client decide to lend to the Borrower, review the English law governed Facility Agreement and any other relevant agreements as well as provide local law advice, preparing all corporate authorisations and attending to all registrations of securities.
• Advising BOC Aviation on the Kenyan aspects of its USD 548 million asset backed securitisation (ABS) transaction with Silver Aircraft Leasing Limited.
• Advising the Government of Kenya in relation to an unsecured single currency ECA backed loan (EUR 52.6m) and the corresponding commercial loan (EUR 8.7m) on all aspects of the borrowing, including together with borrower’s international counsel negotiating and reviewing the facility agreements, preparing and negotiating the conditions precedent and completion documents and providing general closing services in a transaction involving 4 jurisdictions.  The financing was provided by a Dutch and a German international bank, with the export credit insurance being provided by a Dutch credit insurance agency.
• Acting as the lead counsel to a Kenyan company in all aspects of the export credit agency backed financing for its acquisition of four BAE ATP aircraft from a Swedish company, including negotiation and drafting or review of purchase, financing, security and lease documentation in a transaction involving 5 jurisdictions. The financing was provided by a Swedish bank with a guarantee provided by EXPORTKREDITNÄMNDEN, the Swedish Export Credits Guarantee Board.
• Advising Export Import Bank of the United States, the official export credit agency of the United States Federal Government, on a USD 525 Million sovereign guarantee by the Republic of Kenya, including drafting and negotiation of the guarantee agreement with The National Treasury of Kenya and the Attorney General's Office.
• Advising Export-Import Bank of the United States on the guaranteed financing for six Boeing 787 ‘Dreamliner’ aircraft and four Boeing 777 aircraft for Kenya Airways Ltd, including regulatory advice, reviewing the financing and guarantee documentation, drafting and negotiating conditions precedent documentation and attending to registration of interests on the register of civil aircraft of Kenya.
• Advising Equity Bank Limited in additional USD 45.2 million single currency secured term and revolving facilities with letters of credit and guarantees with the introduction of a new lender - advising the lender on all aspects of the lending, including reviewing the proposed structure and security package – all the while taking the existing loan documentation into consideration, reviewing the deed of priority and additional lender documentation, preparing and negotiating the amended and restated facility agreement and the security package which comprises of fixed and floating debentures, corporate guarantees, charges over shares, land and bank accounts, analysing and clearing title, analysing and determining guarantor capacity, providing general closing services and co-ordinating foreign counsel.
• Advising Equity Bank in a multi-currency (USD 60m and KES 50m) secured term and revolving credit facility with letters of credit. Our role included advising the lender on all aspects of the multi-currency lending, including the proposed structure and security package, preparing and negotiating the facility agreement and the security package which comprises of fixed and floating debentures, corporate guarantees, first ranking charges over shares and real property, analysing and clearing title, analysing and determining guarantor capacity, providing general closing services and coordinating foreign counsel.
• Advising a Mauritian company (borrower) and a Kenyan company (Guarantor) in a single-currency secured term shareholder non-revolving loan facilities including, advising the borrower and the guarantor on all aspects of the lending, reviewing and negotiating the loan agreement and the security package which comprises of a first ranking charge over shares in the guarantor’s Tanzanian subsidiary and a guarantee and indemnity issued by the guarantor, providing general closing services and co-ordinating foreign counsel.
• Advising Equity Bank Limited in additional USD 16.5m single currency secured term and revolving facilities with letters of credit and guarantees - advising the lender on all aspects of the lending, including reviewing the proposed structure and security package – all the while taking the existing loan documentation into consideration, preparing and negotiating the amended and restated facility agreement and the security package which comprises of fixed and floating debentures, corporate guarantees, charges over shares, land and bank accounts, analysing and clearing title, analysing and determining guarantor capacity, providing general closing services and co-ordinating foreign counsel.
• Developed ‘first in market’ transaction documentation for scheme trustees, fund administrators and financiers to use in pension backed mortgages introduced into the Kenyan market.
• Advising Bandwidth and Cloud Services Group Limited (Kenya) in the creation of securities over Bandwidth and Cloud Services Group Limited for a lending to Bandwidth and Cloud Services Group Holdings.
• Advising a private equity firm on its USD 10 and USD 3.5 Million convertible loans to a Kenyan company, including drafting and negotiating the convertible loan note instruments, corporate approvals, restructuring shareholder arrangements of the borrower and related agreements.
• Review of sub-custody agreements for HSBC Bank, one of the world’s largest banking and financial services organisations, appointing Stanbic Bank Kenya Limited as a local sub-custodian for the securities and assets invested under HSBC’s Collective Investment in Transferable Securities and the Alternative Investment Fund Manager Directives.
• Provided an advisory opinion to a DFI funded non-governmental organization dealing with financial inclusion on the interpretation of certain terms of a contract, including review of the various contracts and amendments made thereto, internal correspondence and correspondence between the parties. The opinion was to act as a basis in resolving an impasse between the parties regards a claim for over KES90 million and the disclosure of potentially confidential information.
• Acting for Absa Bank Kenya in the takeover and refinancing of a USD 7 million facility from another financial institution, including due diligence, drafting and registration of securities, drafting and negotiation of agreements between the financiers required for the takeover.
• Represented Equity Bank (Kenya) Limited, in various secured facilities and re-financings in excess of USD 300 million.
• Advising Cessna Finance Corporation in the finance leases of over 30 aircraft to local operators, including regulatory advice, drafting or review of finance lease documentation, condition precedent documentation and related agreements and securities, registration of interests on the Kenya register of civil aircraft.
• Advising a Mauritius company on the finance leasing of locomotives and other rolling stock valued at USD 35 Million, including negotiating and reviewing the finance lease documentation and operating lease documentation with the Kenyan rail operator.
• Represented Equity Bank (Kenya) Limited and Equity Bank Rwanda Limited in a USD 35 million cross border syndicated facility to RwandAir Limited to finance its working capital requirements.
• Advising variously on commercial and retail lending, securities, commercial contracts, employment matters and disputes and recoveries as legal panel members for Absa Bank Kenya, ABC, Bank of Africa, Co-operative Bank, Development Bank of Kenya, Equity Bank, HF, and NCBA Bank Kenya Plc.
• Advised numerous leading global lessors such as AerCap. Africair, AWAS, BOC Aviation, BBAM, Boeing Capital, GAAM, Investec, Jetscape, Macquarie Air Finance and Montrose Global on leases of Boeing, Cessna and Embraer aircraft to local operators. Tasks included some or all of regulatory advice, drafting or review of transaction documentation, negotiation and drafting of condition precedent documentation, drafting and registration of Kenyan law securities, registration of interests on the Kenya register of civil aircraft.
• Advising First Abu Dhabi Bank by undertaking a due diligence on Eastern and Southern African Trade Development Bank, a multilateral legal institution established under the Common Market for Eastern and Southern Africa (‘COMESA’) and on the local regulatory and licensing requirements on over-the-counter derivative transactions.
• Advising Ascent Capital Advisory Africa for a short-term facility of USD 14 million from I&M Bank to finance the purchase of shareholding in Platcorp Holdings Limited as an investment.