Ethiopia
The Emerging Africa Infrastructure Fund (EAIF) is underwriting a $36m loan to Ethiopian Airlines to fund the company’s expansion plans. The purchase of new aircraft will cost a total of $460m.
The deal was signed this April and the first disbursement is scheduled for October 2008.
Frontier Markets Fund Managers (FMFM) advised the EAIF on the transaction; FMFM is a wholly integrated division of Standard Bank.
Nigeria
The $200m five year facility for oil and gas company Afren, arranged by BNP Paribas, is fully subscribed and in documentation.
The loan will fund the development of the Okoro Seku oil field project.
The Emerging Africa Infrastructure Fund (EAIF) has committed a $35m loan to telecommunications operator Celtel Nigeria as part of the company’s $350m expansion project.
Celtel Nigeria signed a $1.43bn syndicated loan and $189m of financing in bilateral facilities in March this year. Citigroup was mandated to arrange a $450m five year facility for Celtel as part of the $1.43bn loan and 11 international banks participated in the dollar denominated facility.
South Africa
The Eu250m five year facility for transport group Imperial Holdings has closed and is in documentation. Barclays Capital, Calyon, Commerzbank and Société Générale are mandated lead arrangers.
Imperial Holdings is one of the biggest providers of logistic services in southern Africa.
