Interim Director of Corporate Finance

26/03/2008

A listed oil and gas business actively involved in exploration and development in Africa was planning to raise a significant amount of project finance to bring one of its fields to the production stage.

Preparation for the fundraising would impose an immense burden upon the business’s relatively small finance team and management identified the need to bring in specialist resource to lead the project. A senior banker, previously Global Head of Corporate Finance at a major European bank was recruited as Interim Director of Corporate Finance. He was instrumental in the appointment of new financial advisers to the business and working alongside them raised a bond issue as part of the overall financing arrangements with the project financing element scheduled for completion during H1 2008. Meanwhile the interim executive has been offered and has accepted the permanent position of Chief Financial Officer with the business, and will continue to oversee the fundraising in his new role.