From syndication experience at Stanbic, syndicated loans pool funds for large projects, e.g., Ghana’s infrastructure. Structure per LMA standards, adapted for Ghana under Act 930.

Basic Structure of a Syndicated Loan Agreement:

• Parties and Recitals: Identifies borrower, arrangers, agent, lenders; outlines purpose (e.g., multi-currency term loan).
• Definitions and Interpretation: Key terms like “Facility,” “Drawdown,” “LIBOR/EURIBOR” (now SOFR); includes BoG-compliant clauses.
• Facility Provisions: Amount, availability, drawdown mechanics, interest (fixed/floating), repayment schedule.
• Conditions Precedent: Documents required (e.g., board resolutions, legal opinions) before funding.
• Representations and Warranties: Borrower’s assurances on status, no defaults; repeated at drawdowns.
• Covenants: Positive (e.g., financial ratios), negative (e.g., no additional debt); monitoring by agent.
• Events of Default: Triggers acceleration (e.g., non-payment, insolvency); cross-default clauses.
• Agent and Syndicate Roles: Agent handles admin; pro-rata sharing.
• Assignment and Transfer: Allows secondary syndication.
• Governing Law and Jurisdiction: Often English law, arbitration clause.
• Schedules: Forms, notices.

Practical: In Ghana’s 2023 Eurobond syndication, this structure ensured BoG approval and investor protection post-DDEP.