Acting as financial advisor, Cofarco provided financial counsel to COPL, a junior oil and gas company focused in Sub-Saharan African assets, to raise a USD 30 MM senior debt facility. The financing will be applied to complete the development drilling on OPL 226 in Nigeria, through its JV partnership ShoreCan.
Cofarco, in co-ordination with COPL’s external and in-house advisors and team, was responsible for:
- Finding alternative funding sources and targeting suitable specialised lenders;
- Assisting in preparing a financial model and undertaking sensitive testing of the financial model;
- Preparing a teaser and a tentative term-sheet for the contemplated Transaction;
- Approaching and presenting jointly with COPL the Transaction to the selected lenders;
- Centralising questions and answers on COPL’s operations and business and the Transaction with the selected lenders;
- Advising on terms and conditions offered by the selected lenders and co-ordinating the legal documentation with the COPL’s designated legal counsel until closing.