Adeniran Samson Oluwafemi
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TransactionsStructured Finance

Asset-Backed Ijarah Lease-to-Own Financing for a Piling Rig Acquisition

A Lagos deep-piling contractor acquired a piling rig through a ring-fenced SPV, funded by senior debt and balloon-repaid equity, with no cash contribution from the operator.

Adeniran Samson Oluwafemi; ; 1 min read

₦250m

Transaction Size
₦250m
Structure
Ijarah Lease-to-Own
Asset
Piling Rig
Sector
Construction: Deep Piling
My Role
[e.g. Structuring and Modelling]
Date
March 2026

The Situation

[Why the contractor needed the rig, and why a conventional loan did not fit. Keep the client generic.]

The Structure

The investor provided the full ₦250m. ₦200m was structured as senior debt over 19 months, priced at 3.5% per month on a reducing balance; the remaining ₦50m was provided as equity and repaid as a balloon at maturity.

The operator contributed no cash. Its commitment came through a corporate guarantee and a charge over its company assets, with the rig itself as primary collateral, held inside a ring-fenced special purpose vehicle. Title to the rig transfers to the operator at maturity.

Term Detail
Total Funding ₦250,000,000
Senior Debt ₦200,000,000
Senior Debt Tenor 19 months
Pricing 3.5% per month, reducing balance
Equity Tranche ₦50,000,000, repaid as balloon at maturity
Primary Collateral Piling rig, held in a ring-fenced SPV
Additional Security Corporate guarantee; company assets
Title Transfer To the operator at maturity

Risk Mitigants

  • [Mitigant One]: [Explanation.]
  • [Mitigant Two]: [Explanation.]

My Role

[What you did: structuring, modelling, documentation, investor engagement.]

Outcome

[What happened after close.]