TEMPLARS recently advised Chapel Hill Denham Management Limited as the Fund Manager to the Nigeria Infrastructure Debt Fund (“NIDF”) in its capacity as a lender in connection with its grant of a Senior Facility and a Subordinated Facility to Advent Integrated Services Limited for financing the development, construction, maintenance, and operation of a purpose-built student accommodation under a long-term concession with the Lagos State University.
NIDF’s funding directly supports Nigeria’s efforts towards UN’s Sustainable Development Goals, specifically SDG4 (Quality Education), SDG 8 (Decent Work) and SDG 11 (Sustainable Cities and Communities), and Templars is proud to have supported NIDF on this transaction.
This is the fourth Purpose Built Student Accommodation (PBSA) funded by NIDF, which signifies a significant step in bridging the infrastructure deficit in the country. NIDF is the first listed infrastructure debt fund in Nigeria and Sub-Saharan Africa. By offering tailor-made financing solutions through a streamlined process, NIDF has reduced the financing risks confronted by project sponsors pursuing such opportunities across Nigeria.
The TEMPLARS team that acted as legal counsel to NIDF was led by Partner, Zelda Akindele, supported by Associates, Okabonye Chukwuani, Victoria Anuri and Osarugue Izekor.