HFW advises Government of Niger on debt restructuring
A team of HFW lawyers from Singapore and Paris, led by Partners Brian Gordon, Chris Swart and Robert Follie has advised the Government of Niger on a sovereign debt workout in relation to a 20-year old debt to the Taiwanese Export-Import Bank of the Republic of China.
The debt restructuring deal saw the total owed reduced from US$183 million to US$20 million and required an immediate payment by the Government of Niger of US$5 million. The remaining US$15 million is payable over the next 20 years.
HFW Partner Brian Gordon said: "We are delighted to have been able to help the Government of Niger restructure this long-standing debt with one of its key investors. In coming to this agreement, the Government of Niger is able to put in place new economic growth plans."
HFW's team comprised Partners Brian Gordon and Chris Swart (both Singapore), and Partner Robert Follie, Senior Associate Vincent Bénézech and associate Agathe Philippot (all Paris).