White & Case Guides LSF, ADIA, and Afreximbank in COP28 Deal

Global law firm White & Case played a pivotal role in advising the Liquidity and Sustainability Facility (LSF) on a significant repurchase agreement (repo) transaction. This innovative collaboration involves the LSF, Abu Dhabi Investment Authority (ADIA), and the African Export-Import Bank (Afreximbank) on The Bank of New York Mellon’s Triparty Platform. The announcement was made during the COP 28 currently being held in the UAE.

The purpose of this initiative is to boost the liquidity of African Sovereign Eurobonds and encourage investments aligned with the Sustainable Development Goals (SDGs), including green bonds, across the African continent. In collaboration with the United Nations Economic Commission for Africa and Afreximbank, the LSF aims to introduce a structured repo market to Africa, addressing the gap in market participation for financing the international sovereign debt of African nations. The focus remains on promoting a stable repo market, with a special emphasis on green and SDG-linked issuances. 

The White & Case team which advised on the transaction was led by partners Ingrid York, James Hardy, Clare Connellan, Robert Nield, Anthony Colegrave, Neha Saran, Will Smith, and Jonathan Rogers (all London), Steven Gee (New York) and Suzanne Perry (Washington, DC), local partner Greg Pospodinis (Dubai, pictured) and associates Sylvia Julius, Phillan Amin, Prema Govind, Steph Lartey (all London) and Michael Iloegbunam (New York).