Global law firm White & Case LLP has advised the United States International Development Finance Corporation on the US$200 million senior credit facility to Union Bank of Nigeria PLC, a leading provider of financial services in Nigeria that is part of the Atlas Mara Limited Group.
The loan proceeds will be used to improve digital banking services and expand medium-term lending to small and medium enterprises, focusing on businesses owned, or led by, or serving women.
Martin Menski, White & Case partner and head of the agency practice in Washington, DC, commented: "Such support is particularly important under current circumstances in Nigeria, where the COVID-related collapse in oil prices combined with a broader economic slowdown pose serious challenges for small businesses seeking access to capital."
The White & Case team was led by counsel Suzanne Perry and partner of counsel, Victor DeSantis (both in Washington, DC), with support from associates Jacqueline Durand (Miami) and Trevor Martin (Washington, DC), alongside a team from Templars led by partner Chike Obianwu and associate Modupe Dabiri, advising on Nigerian law matters.
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