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Finance and Projects

We offer legal services in relation to various financial products to our local and international clients. The services cover syndicated lending, asset finance, derivative products, trade and commodity finance, insolvency and restructuring of non- performing loans, regulatory compliance, regulatory compliance, capital and money markets.

Experience has included advising:

  • Acted as lead adviser to a syndication of lenders comprised of local commercial banks and pension funds led by Stanbic Bank Tanzania Limited. Advised on the provision of a syndicated loan totaling USD250 million (equivalent to TZS300 billion) to the national power company, Tanesco, backed by a sovereign guarantee. Our role involved drafting an LMA styled facility agreement, providing an enforceability and capacity opinion and reviewing and attending to all conditions precedent to the execution and disbursement
  • Standard Chartered Bank (Hong Kong) in relation to the Independent Power Tanzania Limited project financing of a 100 MW power plant.
  • International lenders on the Gapco receivership and enforcement of its security in Tanzania
  • Various international lenders on the financing of power projects in Tanzania
  • As local advisers to Standard Chartered Bank Johannesburg Branch in a USD25 million secured lending transaction to a local borrower guaranteed by its parent company, which included reviewing the terms of an LMA styled facility agreement to ensure its enforceability and compliance with Tanzania law, drafting all local law governed security documents and coordinating all local law conditions precedent to execution and disbursement
  • As local advisers to Macquarie Bank in a USD10.6 million trade finance facility to a local underground mining service company which was secured against the borrower’s assets in Tanzania
  • As local advisers to Cooperative Rabobank in a secured USD85 million uncommitted trade finance facility to a local oil marketing company and its affiliates which was secured against the financed assets
  • Export Development Canada on the repatriation of its term loan facility amounts and interest from Tanzania
  • Successfully advised a not-for-profit organization on its on its application for a microfinance license at the Bank of Tanzania
  • As lead advisers to a syndication of lenders led by Stanbic Bank Tanzania Ltd acting as the lead arranger on restructuring of Kagera Sugar Limited loan involving TZS81 billion which was secured by a sovereign guarantee
  • As lead advisers to the company for Habitat and Housing in Africa (Shelter Afrique) in a USD14.5 million secured lending to the National Housing Corporation in Tanzania which was secured against the borrower’s properties
  • As legal advisers to Vodacom Tanzania Plc on a USD90 million syndicated borrowing from local banks including reviewing the terms of an LMA styled facility agreement

IFLR1000 ranks the firm in Tier 1 in Project Development (2019), Tier 2 in Financial and Corporate (2019), and Tier 1 in Energy and Infrastructure sector (2015-2017).

IMMMA’S weekly snapshot

Plans to table in Parliament the Personal Data Protection Bill, advanced stage negotiations with Konoike Construction Company Limited, introduction of a road tax and other news.