Allen & Overy and Arnold & Porter Kaye Scholer took the lead roles on a landmark sovereign bond issue by the Federal Republic of Nigeria that may pave the way for similar offerings by other African nations.

Arnold & Porter advised Nigeria on the heavily oversubscribed $300 million offering, while London-based legal giant Allen & Overy advised the joint lead managers: Bank of America Merrill Lynch, South Africa’s Standard Bank Group, First Bank of Nigeria Ltd. and the United Bank for Africa.