EXECUTION TEAM:
The PMInfraAC team has combined financial advisory, debt structuring and arranging experience of 45 plus years across Europe, Middle East and Sub Saharan Africa;
The team has been involved in transactions with a combined value of over US$92 billion;
We work as “an extension” of our clients financing / project team;
THE TEAM
Patrick is a seasoned investment banker with sound origination, deal structuring, execution, analytical, commercial, negotiation and managerial skills. He has been involved both as financial adviser, equity and debt arranger in a cross-section of infrastructure, shipping, aircraft, hydrocarbon, oil rig and work-over financings in the United Kingdom, Portugal, Saudi Arabia, Qatar, other GCC countries and most recently in Nigeria. His experience covers project development, bankability assessments, deal structuring, risk assessment, financial modelling, PPP bid submission support, risk assessment, PPP negotiation and structuring, financing documentation, credit appraisal, syndication, account and project managing multi-disciplinary assignments & deal teams across Greenfield, Brown-field and Black-field transactions.
He has worked on project financings in excess of approximately US$77 billion since 1996 and was Group Executive, Head – Investment Banking and Operations Divisions at FBNQuest Merchant Bank Limited until February 2023, following which he founded and set up PM Infrastructure Advisory & Consulting Limited. Patrick has 33 years banking experience of which 25 years has been dedicated primarily towards financial advisory, debt structuring, debt arranging / lending and closing of big-ticket project finance, M&A and Capital Markets transactions in Nigeria and various offshore jurisdictions.
His infrastructure / project financing career commenced as a financial modeller at London Underground Limited’s (“LUL”) Project Finance Advisory Group where he advised and negotiated on various transport projects being implemented by the UK Government. His career further developed at the London branch of German bank, Bayerische Landesbank’s (“BLB”) structured finance group where he undertook various project finance (PFI / BOT / PPP) duties. He advanced his career as Assistant Manager, Project & Trade Finance Department, GCC Group, at Arab Petroleum Investments Corporation (“APICORP”) Saudi Arabia. Patrick was subsequently appointed Senior Corporate Banker and acting Head of project finance at National Commercial Bank (“NCB”), Saudi Arabia.
Prior to returning to Nigeria in 2008 he was Managing Director and Head, Project and Corporate Finance at Bahrain based Gulf One Investment Bank where he led and structured the first Islamic finance transaction for an airport on a BOT basis. Upon returning to Nigeria, he joined Standard Bank’s Stanbic IBTC Bank as head, Debt Solutions and later moved to FBN Capital Ltd (now FBNQuest Merchant Bank Ltd) in December 2011 where he rose to the position of Group Executive. Patrick was responsible for overseeing two important divisions of the bank (i.e., Investment Banking and Bank Operations), where he led deal teams involved in advising, structuring, executing and closing of the firm’s debt arranging, advisory and Investment Banking activities. Although he took early retirement in 2023, FBNQuest retains him as Senior Adviser, where he undertakes various ad-hoc advisory duties on behalf of the bank.
Since returning to Nigeria he has been involved as adviser to Central Bank Of Nigeria on the power sector intervention funding, Lafarge, SEPLAT Energy, MTN, Nigeria National Petroleum Corporation on their green-field refinery projects, refinery rehabilitation projects, Nigeria LNG, Nigeria Sovereign Investment Authority (“NSIA”), Lagos State Government’s Blue Line Railway and the Lekki Airport projects. Patrick Mgbenwelu is a regular industry speaker / panel member and writes case studies / articles in various PPP / project finance publications, he is a founding council member and chairman of the International Project Finance Association (“IPFA”) (Nigeria branch) and is on the Advisory Board of Lagos Business School’s Centre for Infrastructure Policy Regulation & Advancement.