Multi-Lender Capital-Stack Restructuring Leader

The mandate

A tower operator breached leverage and debt-service covenants after currency depreciation increased hard-currency obligations while customer collections remained predominantly local. Domestic banks, development lenders, secured noteholders and equipment vendors assert different priority, guarantee and cash-control rights. The restructuring director was removed when creditor models used inconsistent tower cash flow, foreign-exchange access and security assumptions, preventing agreement on a standstill.

The interim must establish onsite Lagos authority within seven days and lead for twenty-four months through stabilisation, definitive restructuring and four compliant quarters. Search for a permanent capital-structure director begins once documents are effective and the first two covenant certificates reconcile, expected in month sixteen. The successor will chair one creditor review, one currency-liquidity exercise and one board refinancing decision during ten weeks of overlap.

Handover requires a facility-by-facility debt register, perfected-security and guarantee map, cash and restricted-account waterfall, intercreditor decision routes, currency exposure, vendor claims, covenant model, waiver history, forecast controls, reporting calendar and executed restructuring obligations. Four quarters and two downside exercises must reproduce. The successor inherits residual maturities, unperfected items, hedge gaps, conditions subsequent and lender undertakings with accountable owners.

The interim may centralise creditor data, freeze non-permitted payments, enforce account mandates, challenge operating forecasts, direct treasury resources and commit up to NGN 90 billion from approved restructuring and critical-vendor budgets. Binding amendments, new security, debt exchange, asset disposal, equity issuance, currency allocation and settlements above delegation require board, creditor or regulatory approval. Formal negotiations proceed within authorised protocols and counsel guidance.

Tower operations, customer pricing, spectrum matters, regulatory licensing, legal priority opinions, asset sales and expansion projects unrelated to liquidity recovery remain outside scope. The seat owns capital-stack evidence, cash control, scenario governance, creditor coordination, reporting and succession. It cannot create apparent solvency by assuming unavailable foreign currency, unsupported tariff relief or selective exclusion of vendor obligations.

Why this seat is open

Currency shock turned a manageable refinancing timetable into competing creditor claims, and inconsistent models destroyed confidence before leadership removal. Each creditor group sees different collateral and cash, while uninterrupted tower service remains essential to customer collections. Temporary restructuring command can create one trusted financial baseline and carry negotiated obligations through observed covenant periods before permanent ownership begins.

What you will own

• Reconcile principal, accrued interest, fees, arrears, currency, maturity, amortisation, guarantee and security for every obligation.
• Map account control, collateral, enforcement, voting, standstill and information rights across facilities and intercreditor arrangements.
• Build an operating-to-debt cash model by customer, tower cohort, currency, entity and restricted-payment pathway.
• Quantify restructuring options across tenor, pricing, amortisation, currency conversion, haircut, vendor treatment and new money.
• Govern weekly liquidity, critical-vendor payment, foreign-exchange access, covenant forecasting and creditor reporting under standstill.
• Coordinate creditor, sponsor, regulator and adviser workstreams while preserving legal, approval and negotiation boundaries.
• Transfer executed-document obligations, condition tracking, reporting packs, model governance and trained capital leadership to the successor.

Candidate qualifications

• Held executive restructuring authority across banks, development-finance institutions, noteholders and trade or equipment creditors.
• Completed a multi-currency infrastructure restructuring involving restricted cash, layered security, guarantees and intercreditor rights.
• Rebuilt creditor confidence through one reconciled debt, liquidity, covenant and operating-evidence architecture.
• Managed hard-currency debt against local-currency revenue and constrained conversion without assuming unavailable liquidity.
• Preserved essential infrastructure service and critical vendors while enforcing payment controls during negotiation.
• Handed an effective restructuring to permanent leadership after documentation, condition, reporting and covenant cycles.

Non-negotiables

• Can assume onsite Lagos command within seven days and travel monthly to creditor and major-operating reviews.
• Will accept exclusive executive accountability for capital-stack evidence, controlled cash and continuous creditor escalation.
• Brings completed multi-creditor infrastructure restructuring; bilateral refinancing or advisory-only exposure is insufficient.
• Must disclose borrower, creditor, vendor, shareholder, adviser, regulator and prospective capital-provider relationships.

1. 49 words maximum. Describe a restructuring where creditor groups relied on incompatible cash or security assumptions.
2. 49 words maximum. Which control protects local operating cash when hard-currency debt service cannot be fully funded?
3. 49 words maximum. State your Lagos availability and the largest multi-creditor capital stack you directly restructured.