Norton Rose Fulbright advises the West African Development Bank on financing of an independent electronic communications network by SENELEC in Senegal

Global law firm Norton Rose Fulbright has advised the West African Development Bank (BOAD) on the financing of a next-generation communications network built by equipment manufacturer Huawei.

The project will support the long-term development of SENELEC (Société nationale d'électricité du Sénégal) in its energy production, transmission and distribution activities through the monitoring of electrical infrastructure and installations, as well as the improvement of the reliability and widespread use of remote measurement and control operations across its electricity distribution network.

BOAD acted as the institutional lender. This financing facility was supplemented by a commercial financing facility for which BOAD also acted as arranger alongside Société Générale Senegal as lender and co-arranger. Société Générale Côte d'Ivoire acted as facility agent and security agent, and Bridge Bank Senegal as commercial lender.

Alexandre Roth, partner at Norton Rose Fulbright, said:

"We are delighted to have assisted the West African Development Bank and all the lenders in arranging the financing for the deployment of this telecommunications network for SENELEC in Senegal. This transaction demonstrates our ongoing involvement and in-depth knowledge of this type of financing on the African continent and in Senegal in particular, as well as of OHADA law, which enabled us to successfully meet the requirements of each party involved in this project."

The Paris-based Norton Rose Fulbright team advising BOAD and the lenders on this transaction was led by banking and finance partner Alexandre Roth with assistance from associate Elahé Hoseiny.

Norton Rose Fulbright was assisted in Senegal by the law firm Houda & Associates with a team led by Khaled A. Houda, partner, and Aissatou Tall, associate.