International law firm Simmons & Simmons has advised MTN Uganda on a syndicated loan which will be invested in its network infrastructure, particularly the roll-out of high speed data capacity.

MTN Uganda, the country’s largest telecoms network operator, is a subsidiary of South Africa’s MTN Group, a longstanding client of the firm. The firm advised on UGX 240bn and USD 44m long term syndicated loan arranged by Stanbic Bank Uganda Limited and The Standard Bank of South Africa, with foreign banks with local presence participating in the syndication.

Commenting on this transaction, financial markets partner, Colin Millar said: "We were delighted to once again have the opportunity to assist the MTN group in negotiating its financing arrangements, this time on an important and significant transaction in Uganda".

The Simmons & Simmons team was led by finance partner based in Paris, Colin Millar and Uganda based Shonubi, Musoke & Co. Advocates assisted the team.

The firm has previously advised MTN Group subsidiaries in Benin, Côte d'Ivoire, Congo Brazzaville and Ghana on loan facilities.