A consortium of Kenyan and international banks, advised by Allen & Overy, has arranged a long-term facility of USD350 million for Kenya Pipeline Company (KPC). This represents 70% financing of a new 450km multi-product fuel pipeline from Mombasa to Nairobi and replaces the existing 35-year-old fuel pipeline.
 
Allen & Overy partner, Sanjeev Dhuna, who led the transaction comments: “We are seeing an increasing number of deals in Africa that are being financed by a broad range of lenders. With an abundance of liquidity in the market, we expect to see more financing of African infrastructure projects like this one in the coming months. Our global reach, sector expertise and local knowledge in Africa ensure that we can advise on these complex transactions.”
 
The consortium of banks includes CFC Stanbic Bank, Citibank N.A. (Kenya branch), Co-operative Bank, Rand Merchant Bank (a division of First Rand Bank Limited) and Standard Chartered Bank.
 
Allen & Overy senior associate Catherine Lang-Anderson supported on the deal.