Banking and Finance
MMC Africa Law is renowned for its broad banking transactional, regulatory and operational practice. The Banking Department constantly advises major clients in the region on a full range of legal issues confronting the industry. One of its most significant work in the banking industry is the development of the Compliance Manual which provides a compliance structure on the operations, processes and documentation required in the industry.
The Firm is in the panel of most of the top tier banks including but not limited to: Barclays Bank of Kenya Limited, Kenya Commercial Bank Limited, Housing Finance, Equity Bank Limited, Co-Operative Bank Of Kenya Limited, Habib Bank, Gulf African Bank Limited, African Banking Cooperation, Chase Bank (K) Limited, Imperial Bank Limited, and Industrial Credit & Development Corporation (ICDC) among others. The Firm advises these banks and financial institutions on the structuring of financial products, secured lending, securities perfection and asset financing.
The Firm also conducts due diligence on banking securities.
As part of the Firm’s value addition, we offer training on the legal framework in land use and planning, REITS, securities perfection and emerging issues in the banking and finance industry such as mortgage and asset backed securities.
The Firm is also involved with other financial institutions such as Shelter Afrique where we are advising on the structuring and financing of various developments within Nairobi.
Some of the transactions the Firm has handled include:
- Structuring and creating various securities to secure borrowings by one of the largest textile companies in Africa amounting to KES 3,500,000,000/= to finance the Group’s expansion and working capital.
- Structuring and creating various securities to secure borrowings by one of the largest millers in Kenya amounting to KES 3,000,000,000/= to finance the Group’s expansion and working capital.
- Acting in various large corporate and project finance transactions for a bank client including the structuring and creating various securities to secure project finance for a manufacturing company amounting to KES 2,400,000,000/=.
- Acting in structuring a real estate project finance deal starting from land acquisition, joint venture/shareholder’s agreements and the financing agreements. The transaction value was KES 1,351,000,000/=) (Equivalent to USD 15,894,117.65.
- Advising a client on securitization of corporate debt of USD200,000,000.
- Handling a syndicated facility transaction valued at USD 60,000,000. The transaction was cross border as the funding was from various subsidiaries of a Nigerian Bank.
- Acting as the transactional legal advisor on a capitalization program (Private Placement and Loan Capitalization) to the tune of USD5,000,000.
- Advising a bank client on several multibillion shilling financing transactions to various corporations in Kenya.
- Advising a bank client on the structure, operational and legal framework of mortgage backed securities an emerging trend in the banking and finance industry.
- Undertaking securities review on the various securities perfected in favour of bank clients and recommending the way forward to reduce the risk exposure to the respective banks in the event of recovery.
- Structuring and creating various securities to secure financing to various oil companies.
- Acting in syndications involving bank clients and other financial institute.
- Acting for various banks in complex takeover transactions.
- Acting for various banks in development of Compliance Manuals, for the use by the banks on all aspects of bank operations and processes, including prudential requirements.
- Currently undertaking a comprehensive securities review for a bank client including Debentures, Charge, Guarantees, Loan Agreements, Chattels and Hire Purchase Agreements.
- Developing security templates for clients.
- Conducting trainings on the Companies Act, 2015 and the Insolvency Act to a bank client and other financial institutions.
- Advising some of its clients on equity and debt investment.
Awards and Accolades
MMC Africa Law has over the years been listed by IFLR1000 as a “Recommended Firm”in Financial and Corporate” practice areas.
MMC has is listed in the top tier of Kenya’s leading law Firms, which earned it a listing in the Chambers Global Listing of the World’s Leading Law Firms.