Norton Rose Fulbright has advised major financial institution Macquarie Bank Limited on a project financing to Perseus Mining Côte d'Ivoire, a subsidiary of Perseus Mining Limited, an ASX-listed, WA-based mining company.

The project loan facility will be used for the development and operating costs of the Sissingué gold project, which is understood to be the first ever project financing of a mining project in Côte d'Ivoire, and the first ever under the current Ivorian mining laws.

Our work involved drafting and negotiating all finance, hedging and security documents; conducting extensive project due diligence; and advising on the bankability of all material project documents.

Norton Rose Fulbright Perth-based partner Alen Pazin led the deal and commented:

"This transaction is the first project financing in Côte d'Ivoire to involve taking security under its current mining laws. Navigating through the West African Central Bank monetary regulations was also a critical piece of structuring this deal, and we are proud to be one of very few firms with regulatory and structuring expertise of this sort in Francophone Africa. It was extremely pleasing to be able to assist Macquarie Bank on this financing and to further the growing track record of Africa-based mining work we have been conducting from our Perth office."

Alen Pazin was assisted in Perth by consultant Herman Yip, associate Megan Tan and graduate Catherine Todd.  SCPA Dogué-Abbé Yao & Associés, our Ivorian counsel, advised on the Ivorian law aspects of the deal.