Deal name: Beitbridge border post
Borrower: Zimborders
Mandated lead arrangers: Absa, Nedbank, RMB, Standard Bank
Lenders: Absa, Afreximbank, Emerging Africa infrastructure Fund, Nedbank, RMB, Standard Bank
Insurers/ECAs: Afreximbank, ECIC
Tenor: 11 years (senior debt), 12 years (mezzanine debt)
Date signed: November 2020
Beitbridge border post, a crossing that connects Zimbabwe and South Africa, is known for its ageing infrastructure that acts as a chokepoint for the movement of goods and people.
Delays at the post are common; truckers carrying goods can wait as long as five days to cross the border, states RMB in its deal submission.
Upgrading the crossing is paramount to ensuring a more efficient trading system in Southern Africa because the border post is “not only the gateway to Zimbabwe but also to Zambia, Malawi and the DRC [Democratic Republic of the Congo]”, says the bank.
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Global shipping company Hapag-Lloyd has secured an export credit agency (ECA)-backed syndicated green loan from a group of nearly a dozen banks.
BNP Paribas and German development bank KfW Ipex-Bank structured and coordinated the US$417mn facility, which will be used to finance the firm’s purchase of three container ships from South Korea.
Nine other banks took part in the deal, which has a 12-year maturity date and is backed by the Korea Trade Insurance Corporation (K-sure).
This particular agreement provides financing for three out of a total of six ultra-large container ships ordered by Hapag-Lloyd in December, with the vessels now due to be constructed in Korea and delivered in 2023.
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