Ray joined the firm in 2004 from the University of Bristol in the UK.

Whilst exposed to all commercial areas of the firm’s practice, Ray eventually found her home in the finance sector with specific focus on renewables and energy.

Asked to identify his “Top 5” transactions, whether by reason of interest or complexity, Ray picks out:

• Advising as local counsel to the Lenders in the refinancing of syndicated project finance of USD 140 million to a local company in connection with the development of a sugar complex and cogeneration plant.  With a multitude of lenders and extensive security arrangements with new regulatory requirements the transaction required delicate management of the parties varied needs whilst navigating the new and untested regulatory environment affecting collateral over land.

• Acting for the developer of a proposed 60MW Solar PV power plant.  With multiple land owners, securing bankable land rights whilst dealing with community sensitivities was particularly interesting. Negotiation of the PPA with the offtaker and managing agreements between project sponsors made for interesting engagements.

• Advising (SBM Bank Mauritius) Ltd in connection with the acquisition of certain assets and liabilities of Chase Bank Kenya Limited (in receivership).  Tasks included detailed due diligence, negotiation of sale and purchase agreements as well as engagement with regulators for approvals and closing.

• Acting for IFC in its acquisition of a minority interest in Equity Group Holdings Limited,  a banking and financial services group listed on the Nairobi Securities Exchange with banking operations and subsidiaries in Kenya, Uganda, Tanzania, Rwanda, South Sudan and the DRC. The transaction was particularly involving owing to the varied sector-specific regulatory and antitrust approvals required to close the transaction, as too putting the deal the requisite private transfer mechanisms applicable to listed entities in Kenya.  

• Advising InfraCo Africa in connection with its keystone investment in two landmark REITs in Kenya

Ray has been lauded as highly regarded by ranking publications such as IFLR 1000 and Legal 500.