White & Case advised LSF on repo deal with ADIA and Afreximbank to Propel Sustainability-Linked Funds in Africa

White & Case advised LSF on repo deal with ADIA and Afreximbank to Propel Sustainability-Linked Funds in Africa

The deal was announced during COP28 held in the United Arab Emirates recently

Global law firm White & Case LLP has advised the Liquidity and Sustainability Facility (LSF) on a repo agreement transaction with Abu Dhabi Investment Authority (ADIA) and the African Export-Import Bank (Afreximbank) on the tri-party platform of the Bank of New York Mellon.

The move is part of LSF’s global market infrastructure role, which aims to enhance the liquidity of a diversified basket of the African sovereign Eurobonds across 18 issuers and incentivize investments like green bonds under the Sustainable Development Goals (SDG).

It has been designed with the support of the United Nations Economic Commission for Africa and Afreximbank. The LSF’s objective is to contribute to addressing the gap in market participation for financing Africa's international sovereign debt. It would indirectly help in promoting a more stable re-purchase market, with a special focus on green and SDG-linked issuances.

The White & Case team advising on the transaction was led by partners Ingrid York, James Hardy, Clare Connellan, Robert Nield, Anthony Colegrave, Neha Saran, Will Smith, Jonathan Rogers (London), Steven Gee (New York), and Suzanne Perry (Washington, DC).

The team also included local partner Greg Pospodinis (Dubai) and associates Sylvia Julius, Phillan Amin, Prema Govind, Steph Lartey (London), and Michael Iloegbunam (New York).