Sefton Fross has advised as Solicitors to the Trustees of the TAK Logistics Limited N50,000,000,000 (Fifty Billion Naira) Bond Issuance Programme.
TAK Logistics Limited is a major player in Nigeria’s agricultural value chain and a major fertilizer company with a combined capacity of almost one million tonnes. The Programme was established by TAK Agro Plc, a special purpose vehicle of TAK Logistics.
The company successfully closed the N15,000,000,000 (Fifteen Billion Naira) Series 1 16.49% Fixed Rate Senior Secured Bonds due 2026. The Series 1 Bonds will be used to raise finance for the acquisition of key infrastructure, and the transportation of fertilizer and food grains in order to advance its position in enhancing yield and reducing waste in the Nigerian agricultural sector.
Sefton Fross acted as Solicitors to PAC Trustees Limited, the Bond Trustee and Vetiva Trustees Limited, as Security Trustee.