Cost efficient resourcing for East Africa project financing
A client based in East Africa asked us to advise on a series of local project financings, sponsored by a DFI on favourable financing terms. They needed sophisticated upfront structuring, but the intent was then to run the program on a limited negotiations basis with simplified formalities, the expectation being that the favourable terms would be sufficient incentive for other parties to accept this.
To deliver this cost effectively, we were able to build a hybrid team out of London, Johannesburg and our Hubs, with a blended rate that accounted for the cost savings outside London. While London led on the structuring, and on two issues which were deemed to be particularly sensitive in substantive negotiation, the wider negotiation and execution legal work was completed in South Africa, and CPs and project management were run from the Hubs. This approach meant the project could be delivered for the client, with maximum cost efficiency, without any compromise in quality.