Allen & Overy (A&O) and White & Case have pipped City rivals Slaughter and May and Norton Rose to advise on a £663m Nigerian trains loan – the largest ever single loan to be generated in a sub-Saharan state.

White & Case edged out Slaughters in a beauty parade to advise lead international arrangers – BNP Paribas, Credit Lyonnais, Citibank NA, MCC Spa and West LB – on financing the construction of two liquid natural gas trains for Nigeria LNG.