David J. Ziyambi

David’s representative matters include advising:

Oil & Gas

• Vivo Energy on the financing arrangements in relation to its acquisition of a 74% stake in Engen
• The Nigerian National Petroleum Company (NNPC) with respect to gas supply arrangements for Nigeria NLNG
• Chevron in connection with the sale of its North Sea assets to Ithaca Energy Limited
• Chevron Nigeria and NNPC:
  • On the settlement and restructuring in respect to the Escravos gas-to-liquids project
  • As sponsors, in the financing of upstream crude oil developments in Nigeria
  • On a US$1.2 billion structured upstream forward sale financing for a joint venture
  • As sponsors, on the US$1.4 billion financing of the OML49, 50, and 95 offshore fields in Nigeria. The transaction was named African Deal of the Year at the PFI Awards 2022
  • As a joint venture on the US$780 million forward sale financing of oil and gas wells and associated offshore infrastructure in Nigeria
• Glencore with respect to the financing of the prepayment of crude oil production from the Bualuang oil field in Thailand
• The lenders on a reserve-based facility in respect to oil assets in Egypt
• Schlumberger on the settlement in respect to its financing of the development of the Anyala and Madu fields in Nigeria
• The sponsors, led by TotalEnergies, in connection with the US$20 billion financing by several ECAs of the development of an LNG Project in Mozambique. This transaction was named Global Multilateral Deal of the Year of 2020 by Project Finance International
• Eight export credit agencies from Japan, Australia, Korea, France, Germany and The Netherlands, and a syndicate of 33 commercial lenders, on the US$20 billion project financing of the Ichthys liquefied natural gas (LNG) project in Australia. Sponsored by Inpex Corporation and Total SA, this was widely regarded as the largest project financing ever arranged in the international finance market at the time
• Helios Investment Partners: 
  • With respect to a holding company facility related to its joint venture participation in oil fields in Nigeria 
  • As sponsor in relation to a capex facility in connection with the acquisition of the gas business of Oando Plc
• Term loan refinancing of a borrowing base acquisition financing facility connected with the Ithaca/Valiant transaction
• Carlyle International Energy Partners in connection with the acquisition of Shell’s upstream onshore hydrocarbon assets in Gabon and a reserve-based lending facility of US$320 million; the Shell assets included more than seven existing product sharing contracts
• A US private equity fund as sponsor in respect to a reserve-based financing in relation to the acquisition of UK oil assets
• The lender’s agent in connection with a pre-export forward sale financing of a crude oil purchase from NNPC
• The lenders in relation to the US$42 billion multi-sourced financing by Tengizchevroil of an oil field in Kazakhstan
• Yamal LNG in connection with the financing of the Yamal LNG project in Russia sponsored by Novatek, Total and CNODC
• ExxonMobil with respect to:
  • The prepayment financing for the sale of its oil assets in Chad
  • An advance payment facility in connection with the sale of its upstream business in Nigeria
  • A joint venture between its subsidiary, Mobil Producing Nigeria Limited, and NNPC on the financing of the development of a US$1.275 billion natural gas liquids (NGL) expansion project in Nigeria
  • Its subsidiary, Mobil Producing Nigeria, and NNPC in connection with a crude oil reserves development project in Nigeria, the financing of which included debt provided by a syndicate of international and Nigerian banks
• Egyptian General Petroleum Corporation in connection with numerous pre-export financings and forward sale financings in respect to its crude oil production
• The lenders (including Afreximbank, Africa Finance Corporation (AFC), commercial banks, and commodity traders) on the US$1 billion crude oil Eagle Funding Limited financing for NNPC
• An international trader with respect to the financing of the prepayment of crude oil production from Yemen Investment Company for Oil and Minerals
• AFC and lenders in relation to a US$1.04 billion crude oil forward sale financing
• AFC and Glencore in relation to a financial and technical services arrangement
• HSBC:
  • With respect to a secured reserve-based lending facility for IPR Transoil Corporation
  • As lead arranger of a US$1 billion structured oil receivables financing relating to the sale of oil by the Egyptian General Petroleum Corporation
• A sovereign state in connection with the drafting of its oil legislation*

Power & Renewables

• Microsoft: 
  • In what was the first ever project finance facility for solar minigrids, provided by Microsoft Climate Innovation Fund and Bank of America to CrossBoundary Energy Access II (CBEA II)
  • On an investment by Microsoft Climate Innovation Fund in Konexa, an investment vehicle formed to undertake the construction, financing, operation, and management of various clean energy projects in Nigeria
• The European Bank for Reconstruction and Development, the OPEC Fund for International Development, the African Development Bank, and Arab Bank on a US$114 million financing package, also involving financing from the Green Climate Fund (GCF), for the construction of ACWA Power Kom Ombo solar power plant, the largest private solar plant in Egypt, Aswan Province. This transaction was named African Energy Transition Deal of the Year at the IJGlobal Awards in 2023
• Africa50 in relation to its minority investment in Azura-Edo Platform, a Nigeria-based 461-MW gas power station financed with a PRG provided by the World Bank through MIGA
• Abraaj Credit BV in relation to a second lien facility for a Ghanaian IPP to finance the expansion of a portfolio of gas-fired power plants in Ghana with a total generation capacity of 205MW
• NNPC and ExxonMobil as sponsors in the development of a 550-MW gas-fired independent power project in Qua Iboe

Infrastructure

• NNPC:
  • With respect to the financing and development of the Ajaokuta-Kaduna-Kano Gas Pipeline and Stations Project in Nigeria
  • On the financing and rehabilitation of its refineries in Port Harcourt, Warri, and Kaduna in Nigeria
  • On the US$1.04 billion Lekki Refinery Funding Limited forward sale financing for the purchase of a minority share in Lekki Refinery
  • On the US$2.5 billion prepayment financing by NLNG for gas supply for NLNG Trains 1–6
• The lenders in relation to the amendment and restatement of Ineos’ borrowing base facility to include the Forties Pipeline System

Mining & Metals

• Konkola Copper Mines in connection with the financing of the Konkola deep mining project in Zambia, named African Mining Deal of the Year by Project Finance
• Ministry of Mines of Zimbabwe in relation to prepayment facilities in respect of diamond production from its joint venture participations in a number of diamond mines
• Reserve Bank of Zimbabwe and its subsidiary, Fidelity Printers and Refinery, in relation to gold sales/management and fundraising in the international commercial bank market

Other Matters 

• AFC in relation to a US$750 million liquidity facility
• A major international financial institution in connection with the US$450 million loan and guarantee facility advanced to a Nigerian shipping group*  
• A global tobacco company in connection with their bilateral loan facility for a multi-sector conglomerate in Zimbabwe, to finance its tobacco operations* 
• The agent in relation to the €875 million term and revolving facility advanced to a leading producer of paper-based packaging  
• A consortium of real estate investment funds in connection with the refinancing and restructuring of the £550 million financing in relation to its hotel portfolio*
• Morgan Stanley Mortgage Servicing Limited in relation to its £644 million notes due 2019 and £429 million due 2017 under certain commercial mortgage-backed securitisation programmes* 
• Citco Group Limited and Citco Nederland NV in respect to the establishment by Amathea Funding plc of its US$9 billion EMTN issuance programme* 
• AFC in connection with the EMTS telecoms restructuring

*Matter handled prior to joining Latham