Sullivan & Cromwell's recent Africa capital markets experience includes participation in the following matters:
 
  • African Development Bank's debt offerings since 1985, as counsel to the underwriters.
     
  • AngloGold Ashanti's $2.95 billion SEC-registered equity offering and $1.6 billion SEC-registered equity offerings, as counsel to the parent of the issuer.
     
  • Ashanti Goldfields' $250 million SEC-registered offering of guaranteed exchangeable notes, as counsel to the underwriters.
     
  • Ashanti Goldfields' initial listing of global depositary shares on the NYSE, as counsel to the underwriters.
     
  • Banque Marocaine du Commerce Extérieur's $50 million Rule 144A equity offering, as U.S. counsel to the underwriters.
     
  • Barclays Africa Group Limited's £2.224 billion private placement of ordinary shares in Barclays Africa Group Limited (2017), and its £603 million follow-on offering of shares, as counsel to the parent and selling shareholder, Barclays plc.
     
  • Central Bank of Tunisia's $400 million SEC-registered debt offering, as U.S. counsel to the issuer.
     
  • Compagnie de Bauxite de Guinée's Eurobonds and private placement in Japan for Boké Project, as counsel to the underwriters and Japanese purchasers.
     
  • Compagnie Internationale Pour la Production de L'Alumine's U.S. institutional private placement for the FRIA Project, as counsel to the U.S. institutional lenders for the tranche arranged by the U.S. participant.
     
  • Egyptian Ministry of Economy's revisions to the Capital Market Law and related regulations, in consultation with the minister, the chairman of the Capital Markets Authority and the Chairman of the Stock Exchange.

    At the request of the Minister S&C prepared and submitted a draft of a comprehensive new Capital Market Law.
     
  • Gold Fields' $2 billion Rule 144A/Reg. S secondary offering of ordinary shares, as U.S. counsel to the issuer.
     
  • IFC's offering of 1 billion Moroccan dirham-denominated bonds on the Casablanca Stock Exchange, as U.S. counsel to financial adviser and standby purchaser.

    This was the first offering of bonds by a supranational issuer in a local African market.
     
  • A Nigerian company's international debt capital markets financing, as counsel to the borrower.
     
  • The Republic of South Africa's maiden $10 million Schedule B offering (qualifying transaction for SEC shelf eligibility) and multiple subsequent U.S. and global debt offerings after 1994, as sole U.S. counsel.
     
  • The South African Futures Exchange's Commodity Futures Trading Commission application, as U.S. counsel.
     
  • Thintana Communications' Regulation S and Rule 144A offerings of approximately 83 million ordinary shares of Telkom, the largest telecommunications company in South Africa, as U.S. counsel to SBC Communications, the majority partner in Thintana Communications.