(Nigeria - Oil & Gas Producer)
Lenders - Private Investors
Debt Arranger - Cofarco SAS
Cofarco is mandated as financial advisor by GPDC, an independent Nigerian oil and gas company, to raise financing for part of a work program to be conducted on its two offshore assets.
Cofarco arranged a USD12 million convertible loan that GPDC closed in September 2012 with private investors. The facility will be used to finance part of GPDC’s capex needs for its offshore blocks.
Acting as an independent advisor, Cofarco was mandated by GPDC to secure and coordinate a convertible loan with designated private investors. Under the terms of its mandate, Cofarco was responsible for:
- Reviewing the projected funding needs;
- Preparing a presentation of GPDC for investors; for EDC as part of its due diligence process;
- Structuring and presenting the facility as well as the relevant financial modelling to the investors and coordinating Q&A on the key terms and conditions of the transaction; and
- Working with GPDC, GPDC’s lawyers, and the private investors to close the legal documentation in due time.