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White & Case Advises Deutsche Bank on First ECA-Backed US$3 Billion Hybrid Corporate Financing for LNG Project

Global law firm White & Case LLP has advised  Deutsche Bank Luxembourg S.A. on the landmark US$3 billion export credit agency (ECA)-backed hybrid corporate financing for Nigeria LNG Limited (NLNG) – a joint venture owned by Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni – to develop  the NLNG Train 7 Project.

Deutsche Bank Luxembourg S.A. acted as Global Facility Agent, International Commercial Bank Facility Agent, K-SURE Facility Agent, SACE Facility Agent, K-Exim Facility Agent  and Intercreditor Agent. This first hybrid corporate financing for development of an LNG project in Africa sets the benchmark for future LNG facility financings globally and was provided Export Credit Agencies, Development Finance Institutions and over 26 international and local commercial banks.

The White & Case team in Hamburg which advised on the transaction was led by partner Florian Degenhardt and included local partner Matthias Bochum and associate Martin Riederer.

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