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 organisations 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 provided to a Nigerian development finance institution) and the Nigerian private sector 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. The deal is an acquisition financing for the largest "telco" acquisition in Nigeria in 2018.
In the oil-and-gas sector, he advised the NNPC and First E&P on the US$724mm contractor financing for the development of oil and gas reserves in fields located in the Niger Delta. This was a pioneering and seminal financing structure for oil financing in Nigeria at a time of low prices of crude. The old structure involved funding from banks and traders.
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).