Commercial real estate financing – Douala Grand MallPublished:
Trinity International LLP is pleased to announce that it has advised Proparco, the French government’s development finance institution, and Société Générale Cameroun S.A., as joint lenders for their financing of the Douala Grand Mall project.
The grade-A mixed use Douala Grand Mall development aims to be Cameroon’s premier shopping and entertainment destination and is being developed by Actis, with local partner Craft Deelopment. The project is currently under construction near the international airport of Douala, Cameroon.
This transaction demonstrated Trinity’s ability to advise on commercial infrastructure projects in Africa and on secured lending transactions in jurisdictions using the commercial law of the Organisation for the Harmonization of Business Law in Africa (“OHADA”). In addition, Cameroon’s membership in the Central African CFA franc zone meant navigating rules to structure multi-currency bank accounts in compliance with the requirements of the Bank of Central African States (“BEAC”). The transaction made the most of Trinity’s full Francophone capabilities. The Trinity team was led by partner Kaushik Ray and managed by counsels Eric Filipink and David Nanson, with additional assistance from Marianna Sédéfian from Trinity’s Paris Office