Al Tamimi & Company advises Tata International on a landmark securitization transaction for its African subsidiaries
Al Tamimi & Company (“Al Tamimi”) has advised on a multi-tranche USD 48 million receivables securitization transaction for Tata International Limited (“TIL”), with Alpen Capital acting as sole financial advisor to the transaction.
Al Tamimi’s Banking & Finance, Corporate Commercial and Corporate Structuring teams worked hand in hand as lead counsel on the transaction with local counsel in Ghana, Ivory Coast, Kenya, Nigeria, Senegal, Tanzania, Uganda and Zambia.
The transaction was a unique securitisation transaction for the Tata Group in Africa which involved securitizing receivables from 11 African subsidiaries of Tata International Limited (India) and Tata International Singapore Pte Ltd, through an orphan special purpose vehicle. Our team also set up the entity in which the receivables were securitized in the Abu Dhabi Global Market (ADGM).
The Al Tamimi team was led by Banking & Finance Partner, Mamoon Khan, and Corporate Partner, Alex Saleh, with assistance from banking lawyers Sakshi Puri and Murtaza Hussain. Alex Ghazi and Nasouh Raslan from our Corporate Structuring team led on the ADGM SPV.