Fred Onuobia is the managing partner of G. Elias & Co, one of Nigeria's leading business law firms. He is a member of several professional organizations and is recognised in leading directories such as Legal 500, IFLR and Chambers Global. He has over 25 years' experience in carrying out banking and finance, capital markets, corporate, commercial, trade and project finance work for both private and public sector clients in various industry sectors.
Fred has advised on numerous banking and finance transactions. He advised the African Export-Import Bank on its US$750mm and US$650mm financing to the Bank of Industry (largest financing ever of a foreign development financial institution to a Nigerian development financial institution) and the Nigerian private sponsor of the largest ever newbuild refinery respectively.
In the telecommunications sector, he is leading the team advising a multilateral financial institution on its multi-million dollar financing to a Nigerian private company for on-lending to an insolvent telecommunications company in Nigeria, with a huge debt to the Nigerian banking sector.
In the oil-and-gas sector, he advised lenders on the US$1.5bn pre-export forward sale transaction to finance the NNPC, Shell Petroleum and Total oil field developments for the Nigerian national gas-to-power programme. This transaction has the potential of significantly reducing the gas shortages experienced in the electric power sector.
In the structured finance sector, Fred has advised several leading international banks on swaps, repos and securities lending transactions with Nigerian counterparties.
Other notable transactions of his include advising a syndicate of lenders on the project financing and restructuring of the construction and rehabilitation of Lekki-Epe Toll Road (Nigeria's pioneering toll road concession) and the lenders on the Lagos airport terminal (MMA2) development concession (Nigeria's pioneering private airport terminal).