Clifford Chance

Clifford Chance advises Deutsche Bank and Legal & General on a sustainable financing to the Republic of Togo

Global law firm Clifford Chance has advised Deutsche Bank and Legal & General as arrangers and lenders on a €200,000,000 sustainable loan financing to the Republic of Togo, benefitting from partial credit guarantee support from the African Development Fund (which forms part of the African Development Bank Group).

The loan financing is the Republic of Togo's debut financing from international commercial lenders under its Sustainable Finance Framework. The proceeds of the loan will be allocated to green and social projects including climate adaptation, biodiversity preservation, sustainable agriculture, access to clean energy and pollution control.

The Clifford Chance team was led by partners Deborah Zandstra and Simon Williams, together with senior associates Azam Taiyeb and Michael Obiri-Darko, associate Domenico Cullura and trainee solicitors Atharva Deshpande and Eve Thomson.

The successful execution of the deal adds to Clifford Chance's track record of advising clients on complex sovereign and quasi-sovereign transactions in Africa.