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Banking and finance in South Africa

ENSafrica

ENSafrica  has ‘unrivalled depth and breadth of banking and finance expertise across a high number of African markets’ and is especially notable in cross-border mandates with English and French qualified law practitioners at executive level. Its offering ranges from derivatives and asset finance to aviation finance and capital markets. International financial institutions and blue chip companies are included in its clients roster. The team is also supported by the firm’s regulatory finance team advising on mandates in the fintech and cryptocurrency space. Roger Rudolph  leads the group from Cape Town, and Johannesburg-based Sean Lederman is a reputable banking and finance lawyer in the asset and leveraged finance space. Also in the Johannesburg office, Anina Boshoff, the previous head of the finance practice at Hogan Lovells (South Africa), has bolstered the group’s mining, media and infrastructure practice since joining in 2019.

Practice head(s):

Roger Rudolph

Testimonials

‘ENS are the leading South African firm and my go-to for any South African law matters. They have a wide network of offices and partnerships throughout Africa putting them top of the list for African transactions. Their billing is extremely competitive, and their service levels are excellent.’

‘The team responds on short notice, has a good approach in dealing with people, including bankers even when under time pressure. They are technically proficient with a practical approach.’

‘They have good knowledge of our business from past transactions and suggest practical solutions.’

‘The team consists of members with the highest technical knowledge of the specialist finance arrangements being undertaken and apply this in a pragmatic manner to ensure deal execution and appropriate protection of the client interest.’

‘The ENS team has unrivalled depth and breadth of banking and finance expertise across a high number of African markets. A culture evidenced of proactive covering of the key conditions and dates of commercial agreements such that clients know well in advance of an approaching maturity.’

‘Strong relationships with key individuals across the financial institutions in their markets to access the right person at the required time.’

‘Always accessible and willing to lead the drafting with commercial sensibility and practically workable agreements’

‘Sean Lederman is one the leading banking and finance partners in South Africa. He is an expert in his field, extremely accessible, is a problem solver and always delivers output to an impeccable standard.’

Key clients

Investec

Absa Bank

First National Bank

ENX Corporation

Nedbank

Development Bank of Southern Africa

Work highlights

  • Acting for a syndicate of lenders comprising Nedbank Limited and FirstRand Bank Limited in relation to a syndicated post-commencement financing transaction, in terms of which a consortium of lenders have advanced an aggregate amount of ZAR750m to Comair as post commencement finance in order to enable Comair to meet its financial commitments during its business rescue proceedings and to ensure the continuity of Comair’s operations after its business rescue.
  • Acted for Absa Bank regarding the provision of preference share funding to the BEE shareholder of Dorper windfarm to enable the refinance of funding previously procured by such shareholder when the project initially started.

Webber Wentzel

Webber Wentzel boasts ‘leading lawyers‘ and advises high-profile lenders, borrowers and sponsors across the entire spectrum of banking and finance matters. The team also benefits from the support of the firm’s tax, M&A and competition teams. Khurshid Fazel has particular expertise in preference share funding transactions. Johan Henning leads the firm’s financial regulatory practice which also includes the ‘knowledgeable’ Dawid de Villiers. The debt capital markets practice is led by ‘the best debt capital markets lawyer‘  Karen CouzynLindi Marais is also a core member of this team, which handles domestic and cross-border debt security transactions. Natasha Pather was promoted to partner in March 2021 and has expertise in debt finance and syndicated lending. Since publication, Muhammad Sader left the firm.

Practice head(s):

Johan HenningKaren Couzyn

Testimonials

‘The Webbers Banking and finance team continually (for a number of years) delivers world-class work, delivered by leading lawyers in a practical and pragmatic manner. It is extremely encouraging to see how the partners allow the junior members of the team to engage with clients, which not only assists with keeping costs down but also more importantly develops and enables the junior members of the team.’

‘The team is very commercially minded but also has a very clear understanding of the regulatory environment in which we operate. They are solutions driven and provide clear explanations and solid advice.’

‘Quality team of experienced individuals who are each very well respected in the industry. No other banking team has that breadth of experience.’

‘I have very much enjoyed working with Dawid de Villiers – he is very approachable and knowledgeable and really considers all aspect of a query when providing a response.’

‘Karen Couzyn is the best debt capital markets lawyer in the South African market’

‘Karen Couzyn is an institution in the debt capital markets in South Africa and her ability to distil complex issues into simple solvable issues in a pragmatic and efficient manner is one of the reasons she is the best DCM attorney in South Africa.’

‘Lindi Marais was very responsive and attended to our needs quickly.’

Key clients

RTT Group

FirstRand Bank

Neoma Africa Fund III LP and Bidco

Momentum Metropolitan Holdings Limited

The Noteholder Committee against the Land Bank

The Standard Bank of South Africa

Grobank

RMB and Morgan Stanley & Co. International plc

Work highlights

  • Advising various aircraft lessors, comprising almost the entire fleet of aircraft for Comair.
  • Acting for the Noteholder committee appointed to engage with The Land and Agricultural Development Bank of South Africa in relation to the restructuring of the Land Bank’s defaulted debt funding arrangements.  
  • Advised Grobank in respect of an investment by Access Bank Plc over two tranches in Grobank.

Allen & Overy (South Africa) LLP

Allen & Overy (South Africa) LLP handles some of the most significant banking and finance matters across the African continent, acting for major banks and financial institutions. Nick Grootes has substantial experience in cross-border financing transactions and handles regulatory and compliance mandates as well as securities and derivatives. Director Lindani Mthembu has expertise in structured, project, acquisition and asset finance and director Amanda Jones leads major distressed debt refinancing. Lionel Shawe left the team to join White & Case LLP in April 2021.

Key clients

Rand Merchant Bank, a division of FirstRand Bank

The Standard Bank of South Africa

Nedbank

Absa Bank

Investec Bank

Ascendis Health

Absa Bank

Sanlam Life Insurance Limited (acting through its Sanlam Capital Markets division)

Rand Merchant Bank, a division of FirstRand Bank Limited

The Standard Bank of South Africa Limited

Nedbank Limited

Absa Bank Limited

Investec Bank Limited

Ascendis Health Limited

Absa Bank Limited

Sanlam Life Insurance Limited (acting through its Sanlam Capital Markets division)

Work highlights

  • Advising Absa, Investec, Nedbank, RMB and SBSA in connection with pre-commencement and post-commencement funding for South African Airways SOC.
  • Advising Absa, RMB, Sanlam and SBSA in connection with the restructuring of ZAR3.2bn in facilities for EOH Holdings and EOH Mthombo.
  • Advising the Ascendis group of companies in connection with the restructuring of its indebtedness and a recapitalisation of the Ascendis Group.

Bowmans

Bowmans has a reputable banking and finance team operating across sub-Saharan Africa for major financial institutions, with a recent focus on large corporate restructurings and inbound foreign direct investment. Ulrike Naumann  is the head of the practice alongside Shamilah Grimwood-Norley . The practice features significant expertise at the senior end with Casper van Heerden  leading the debt capital market team, David Geral chairing the banking and financial services regulator group and Patrick Hirsch heading  project finance. Jan Kruger  has significant expertise in specialised finance, handling BEE-related matters in the finance space and preference share matters. Mark Kyle joined the firm from Webber Wentzel in October 2020 whilst Jackie Leggett is now practicing at Clayton Utz  in Sydney.

Testimonials

‘Not only are their lawyers legally astute and very competent, but they also provide commercial leadership, in many cases obviating the need for any additional or outside commercial advice and acting as the key contact point in negotiations.’

‘Excellent representation across Sub-Saharan Africa and equally comfortable representing financial institutions.’

‘They inspire calmness and rationality whilst accommodating different perspectives / positions and getting to commercially appropriate outcomes.’

‘Ulrike Naumann leads large  and complex group engagements – his depth of knowledge about debt restructuring and recovery law globally continually impresses.’

Key clients

Investec Bank

Nedbank

FirstRand Bank

Ninety-One

Standard Chartered Bank

Stanbic Bank Kenya

The Standard Bank of South Africa

Orion Mine Finance

Absa Bank

ARC Fund

Nedbank Limited, London Branch

African Rainbow Capital

Capitec Bank

Fairfax Africa Investments

Alexander Forbes Group Holdings Ltd

AttAfrica Portfolio Refinance

Imperial Holdings

Motus Holdings

Work highlights

  • Advised a consortium of banks, as creditors and later shareholders, on a complex debt restructuring transaction of a South African corporate with subsidiaries across the African continent, that included a debt to equity conversion, the creation of a new black empowerment structure as well as the introduction of a new management incentive structure.
  • Advised Orion on the drafting, negotiating and finalising the commercial and financing arrangements with Bushveld in respect of a Production Financing Agreement and convertible loan note instrument, from a legal, commercial and financial perspective.
  • Advised the ARC Fund in connection with a ZAR1bn facility advanced to the ARC Fund by FirstRand Bank, which allowed the ARC Fund to provide two Convertible Loan Facilities to Kropz Plc of USD45m in aggregate, of which Kropz plc used USD 40m to subscribe for preference shares in Kropz Elandsfontein.

Cliffe Dekker Hofmeyr

Cliffe Dekker Hofmeyr is praised by clients for having ‘one of the top banking and finance teams in the country’ with a strong reputation in domestic and cross-border transactions, as well as capital market mandates. Deon Wilken  heads the banking side of the practice, handling work across the African continent. Ludwig Smith is also a core team member with ‘incredible in-depth knowledge’, and Jackie King is described as ‘the best debt capital markets lawyer in South Africa.’ Peter Hesseling   is a name of note in equity capital market mandates whilst Pierre Swart  ‘s strength lies in debt capital markets. Ian Hayes rejoined the firm in March 2021 from ENSafrica.

Testimonials

‘Excellent team with deep market experience and, most importantly, in terms of value for money, they cannot be beaten by any other firm.’

‘The CDH team gives unparalleled service, excellent technical understanding coupled with practical expertise and a strong commercial focus. They also good relationships with other firms and lender teams that allow for transactions to move along in a pleasant and expeditious manner.

‘Overall, one of the top banking and finance teams in the country!’

‘Cliffe Dekker Hofmeyr has a highly skilled team that is knowledgeable,  pragmatic and hardworking.’

‘Ludwig Smith is a senior lawyer with a wealth of experience and an incredible in-depth knowledge (which also spans property, tax and commercial). Ludwig is a master strategist and can be relied on to deliver creative solutions to difficult problems and executes these impeccably.’

‘Jenni Darling is a stand-out practitioner. She has a very strong technical background, but really shines in her practical and commercial approach to issues. She also offers exemplary client service and commitment. She also has a strong corporate and commercial and tax law capability. I would not go into a transaction without Jenni on my team!’

‘Jackie King is, in our opinion, the best Debt Capital Markets Lawyer in SA. Her knowledge and experience around JSE Debt Listing Rules is unparalleled. Her customer service is outstanding and turnaround times are second to none.’

Key clients

Nedbank

Richemont

PSG Group

A2X Markets

Hyprop

Curro

Investec Property Fund

Harmony Gold

Transcend Residential Property Fund

The International Swaps and Derivatives Association Incorporated

Investec Equity partners

Vumatel

Old Mutual

Capitalworks Private Equity Partnership II

Royal Bafokeng National Development Trust

Sanlam

Northern Platinum

Liquid Telecom Group

Vodafone Group Services

Lonmin

Tiso Investment Holdings

Anglo American

Standard Bank Group

Metier Capital Growth Fund II

Retailability

Apis

H1 Capital

Gaia Fund Managers

PIC

IDC

Noble Resources International

Capitalworks Atlanta

Work highlights

  • Representing Metier Capital Growth Fund II and its investment, Retailability, in respect of the bolt-on acquisition by Retailability of certain assets and identified liabilities comprising the business conducted under the name and style of “Edgars” in South Africa, and in four other countries in Africa, namely Botswana, eSwatini, Lesotho, and Namibia from Edcon’s foreign subsidiaries.  
  • Advising IDC and Noble Resources International on various Mining Contract packages such as the Coal Supply, the EPC Contract, Coal Off Take Agreements with Eskom, in a transaction that will create over 3,000 direct jobs revitalise the economy of South Africa.
  • Advised Richemont Securities and Richemont on the initiation, development, and implementation of Richemont’s proposed equity-based Loyalty Scheme whereby Richemont issued tradable warrants to its shareholders.

Werksmans Attorneys

The banking and finance team at Werksmans Attorneys counts major financial institutions and banks from across South Africa and beyond in its client portfolio. The practice has a wide ranging offering, covering matters including syndicated and bilateral finance, leveraged and acquisition finance and structured finance. Commodity and trade finance is also a strength of the team, in addition to debt capital markets transactions, securitisations and debt restructuring. Richard Roothman  is head of the department with expertise in bilateral and syndicated loan transactions. Director Danny Andropoulos handles preference share transactions, acting for lenders and borrowers.

Practice head(s):

Richard Roothman

Key clients

Absa Group

Absa Corporate and Investment Bank

Redinkcapital

Bidvest Group

Investec Bank

Nedbank

Rand Merchant Bank

Reichmans

Standard Bank

Shoprite Holdings

Shoprite Investments

South African Reserve Bank

Transaction Capital Risk Services

Tronox Mineral Sands

Vantage Capital

Africa Frontier Capital

Capital Harvest

Investec Property Fund

Work highlights

  • Advised IPF and IPFO in connection with the funding of IPFO’s increased shareholding in a Pan-European Logistics Property Platform.
  • Acted as legal counsel to the consortium of South African and international banks and other lenders in connection with certain loan facilities provided to the Edcon Group of companies.
  • Acted as legal counsel to Investec Bank in connection with a number of credit facilities made available to Vox Telecommunications and the restructuring of existing debt facilities.

Baker McKenzie Johannesburg

The practice at Baker McKenzie Johannesburg has a strong focus on cross-border banking and finance mandates, including acquisition finance, insolvency, restructuring and regulatory matters. Its client base includes banks and financiers as well as corporates. Lodewyk Meyer heads the practice, and senior associate Chantél van Zyl is also notable in this space, advising both lenders and borrowers on debt finance and multi-jurisdictional transactions. Wildu du Plessis is now at Alchemy Law.

Practice head(s):

Lodewyk Meyer

Other key lawyers:

Chantél van Zyl

Testimonials

‘People and “vested interest” in outcome. They go the extra mile to help difficult deals get over the line.’

‘Chantel van Zyl has good commercial understanding of transactions and is technically sound; she never misses any details.’

Key clients

FirstRand Bank

Bank One

Aveng

Impala Platinum Holdings

Standard Chartered Bank

Aspen Finance

The Development Bank of Southern Africa

Sibanye Stillwater Group

Work highlights

  • Acted for the bank lenders to Petra Diamonds Limited and its subsidiaries regarding the financial restructuring of Petra Diamonds.
  • Advised Aveng and its subsidiaries in relation to the restructuring of their bank facilities with several different lenders, negotiations with various creditors, structure of certain inter-company arrangements and ancillary advice in respect of the proposed restructure under credit facilities with several different banks and the early redemption of the iNguza notes issued pursuant to the ZAR 25bn Asset-Backed Note Programme.

CMS South Africa

Founding partner Riza Moosa leads the banking team at CMS South Africa, which was established in 2018 and has gained an impressive list of clients. It has also undergone further team expansion with the additions of senior consultant Pieter Van Welzen in May 2020 from Clifford Chance  and director Bridgett Majola in June 2020 from Baker McKenzie Johannesburg. This experienced and senior team has wide ranging expertise: Moosa has substantial experience in debt restructuring, business rescue and refinancing transactions for domestic and international clients, Majola in project finance and leveraged loan facilities, and Van Welzen in structured finance.

Practice head(s):

Riza Moosa

Testimonials

‘Good personal attention given to clients.’

Key clients

Absa Bank

Barak Fund

Dartcom SA

Development Bank of Southern Africa

Exxaro Resources

HBZ Bank

FirstRand Bank

Group Five

HSBC

Grindrod Bank

Impala Platinum Holdings

Investec Bank

Kleoss Capital

Millat Properties

Nedbank

New GX Capital Holdings

Pan African Infrastructure Development Fund 2

Phembani Group

Sanlam Capital Markets

Standard Bank of South Africa

Wescoal Holdings

Work highlights

  • Acted for The Agence Française de Développement regarding the Development Bank of Southern Africa’s launch of its first green bond.

DLA Piper Advisory Services (pty) Ltd

DLA Piper ‘has in depth knowledge of financing transactions’, advising both lenders and borrowers on African transactions, especially debt and leveraged finance, preference share and project finance transactions. Jackie Pennington heads the department from Johannesburg, advising on local and cross-border financing transactions. Diana Messerschmidt in Johannesburg is notable for debt and equity structuring and financing. In team news, legal director Bridget King in Cape Town joined the team in March 2021 from Cliffe Dekker Hofmeyr with expertise in derivatives and market regulations.

Practice head(s):

Jackie Pennington

Other key lawyers:

Diana MesserschmidtBridget King

Testimonials

‘The team has in depth knowledge of financing transactions.’

Key clients

FirstRand Bank

Nedbank

The Standard Bank of South Africa

Investec Bank

Brait

Consol

RAIN

Work highlights

  • Advised Thebe in relation to preference share funding made available to it by Stanlib Infrastructure Fund II to enable Thebe to refinance certain existing indebtedness in relation to their renewable energy assets.
  • Advising SBSA in relation to an equity participating preference share and loan facility made available to Vista Ekasi Securities for the purpose of indirectly subscribing for shares in Ikewja Wireless.
  • Advising BASA and its member banks in relation to the negotiation of the ZAR200bn COVID-19 emergency funding scheme made available by National Treasury through the South African Reserve Bank.

Fasken

Fasken has strengths in acting for both providers and consumers of credit in financings across the energy, infrastructure and mining sectors. Lara Bezuidenhoudt, who was appointed head of the practice in January 2021, has expertise in infrastructure finance across the mining, energy and telecoms industries and the ‘outstanding‘ Ashen Jugoo is a key practitioner in the energy financings space.  Craig Whitley joined the team in May 2021 from White & Case LLP and is known for his skill in representing banks. Katy Kay left for an in-house role for in July 2020 and Ndumiso Dyantyi departed for Poswa Incorporated  in July 2021.

Practice head(s):

Lara Bezuidenhoudt

Other key lawyers:

Ashen JugooCraig Whitley

Testimonials

‘The people in the firm are highly skilled and experts in the field of energy finance. They are always willing to go beyond the general requirements of a law firm. The team consciously bills with clear allocation of work done and is not excessive with billing for ad-hoc work.’

‘They have a clear understanding of managing the client relationship between both Banks and Sponsor groups. The firm always responds with speed when work is requested.’

‘The team collaborates well with Lenders in participating in conferences and publications to jointly grow the energy industry.’

‘Ashen Jugoo is an exceptional lawyer with a wealth of expertise that he is willing to share. He is always available to assist and ensures work is delivered in a timely manner. He is one of the most outstanding Energy PF lawyers in the market and my number one go to person for any help or advice. Currently he and his teams are the best in the market.’

Key clients

Nedbank

FirstRand Bank

Investec Bank

ABSA Bank

HSBC Bank plc

Standard Bank of South Africa

Development Bank of Southern Africa

The trustees for the time being of the Ashburton High Yield Credit Fund 2 Trust

Goldman Sachs International Bank

Industrial Development Corporation of South Africa

Kuvaninga Energia

Nedgroup Mogale ESD

Sanlam Life Insurance

Old Mutual Investment Group

Old Mutual Life Assurance Company

ACWA Power Community

Tetra4

The Mamba Cement Company

Work highlights

  • Representing of Nedbank, Absa Bank, FirstRand Bank, The Standard Bank of South Africa and the trustees for the time being of the Ashburton High Yield Credit Fund 2 Trust in relation to the financing provided to the Fidelity Group in relation to acquisition financing in respect of the strategic acquisition of 16 entities and additional general banking and working capital facilities.
  • Advised lenders and sponsors on 14 projects in relation to the bid submission phase of the Risk Mitigation IPP Programme procured by the Department of Minerals and Energy, of which 10 of these projects were ultimately bid.
  • Advising the lenders in respect of the equity funding for the ACWA Power Redstone project.

Herbert Smith Freehills South Africa LLP

Managing partner Edward Baring and Brigette Baillie jointly chair the finance practice at Herbert Smith Freehills South Africa LLP which is notable in the arena of project financing. Baring is highly adept in energy and real estate finance whilst Baillie has a strong focus on non-recourse and limited recourse financing. The department has been developing its pan-African offering and boasts English and practitioners qualified across Africa, and its network of offices in London and Paris also aids this offering across the continent. Consultant Biddy Faber is also of note having previously worked at two South African banks.

Other key lawyers:

Biddy Faber

Testimonials

‘The Banking and Finance Practices’ skills and expertise in project financing market in South Africa are unparalleled.’

‘Brigette Baillie is, in our view, the preeminent banking and finance lawyer in South Africa. She brings her wealth of experience to each transaction. Additionally, she provides innovation and novel ideas. She is quick to turn around documents.’

Key clients

Standard Chartered Bank

Rand Merchant Bank

The Standard Bank of South Africa

Facility for Investments in Renewable Small Transactions

Nedbank

Absa

VTB Bank

CFAO

Work highlights

  • Advised the South African commercial banks and foreign DFIs on the USD 300m financing of the Beit Bridge Border Post upgrade.  
  • Advising CFAO and its fellow investor, the Kapela Group, in respect of the preference share funding by Standard Bank of the participation of Layla Ventures, alongside CFAO, in the acquisition of Unitrans from Steinhoff.
  • Advised Standard Bank on the limited recourse debt financing of a Borrower that sought to fund the purchase of a glass bottles manufacturing plant, together with the business that related to such plant.

Norton Rose Fulbright South Africa Inc

Structured and asset finance expert Jackie Midlane  is head of the banking and finance group at Norton Rose Fulbright South Africa Inc, which acts for major South African and foreign financial institutions. Particular areas of focus for the department include fintech, Islamic finance, pension funds and employee benefits. Michelle David  is notable in regulatory mandates, and Raghemah Hendricks has been promoted to director and specialises in project finance and preference shares, whilst director Malibuye Cossie has expertise in syndicated lending and project finance.

Practice head(s):

Jackie Midlane

Testimonials

‘We were looking for an expert and an unconflicted legal team to advise us on umbrella fund matters and found that with Norton Rose. We needed a team with depth of resources and experience, and which could work with us through the process.’

‘We found Michelle David to be an expert and responsive adviser, with a team behind her to manage smaller follow-up items. Her advice was credible and practical, and we were able to implement it.’

Key clients

TBI Strategic Partners

Nedbank

Metropolitan Life

Absa Bank

PPC

Revego Africa Energy Fund

Société Générale

Investec Asset Management

FirstRand Bank

International Finance Corporation

OPEC Fund

Ecobank

RTI International

Barclays Bank Plc

Government Employees Pension Fund

Work highlights

  • Advised Ecobank Ghana on arranging the advance of a USD199.7m guarantee facility with a syndicate of 11 lenders to Newmont Golden Ridge and Newmont Ghana Gold to secure the borrowers’ obligations under reclamation security agreements they had in place with the Ghanaian Environmental Protection Agency.
  • Acted for TBI Strategic Partners, Momentum Metropolitan Life and Absa Bank on a R448m refinancing by means of senior and junior preference share funding,
  • Acting for Absa Bank on the financing of a R2.5bn capex facility to Teraco Data Environments by the following lenders: Sanlam Life Insurance, Momentum Metropolitan Life, Liberty Group and Ninety One SA.

White & Case LLP

The debt finance team at White & Case LLP has undergone significant expansion. After joining the team in May 2021 from Allen & Overy (South Africa) LLP, top practitioner Lionel Shawe now leads the department. Shawe brought with him a team of partners and associates, including Sibusiso Zungu, who is now a part of the global debt finance practice, and Lulama Selele. Jennifer Stolp also joined the firm from Baker McKenzie Johannesburg in 2020, bolstering the group’s offering in emerging markets. Core sector focuses of the group include financial services, energy and natural resources, real estate, aviation and mining. Craig Whitley left to join Fasken in April 2021.

Practice head(s):

Lionel Shawe

Testimonials

‘They are very engaged and innovative.’

‘They are very solution-oriented.’

‘Jen Stolp is super smart and understands the market very well.’

Key clients

Absa Bank

African Development Bank

Citibank

Development Bank of Southern Africa

Eskom SOC

FirstRand Bank

Highbridge Fund Managers

International Finance Corporation

Investec Bank

Nedbank

Rand Merchant Bank

Stanlib Asset Management

The Bidvest Group

The Standard Bank of South Africa

Vox Telecommunications

Whitebox Advisors

Work highlights

  • Represented lenders regarding a EUR334m commercial bank term loan to Eastern and Southern African Trade and Development Bank with a guarantee from the Multilateral Investment Guarantee Agency, the proceeds of which will be used for COVID-related financing purposes.
  • Represented The Bidvest Group as borrower on the conclusion of a £400m multi-currency syndicated loan facilities agreement.
  • Represented the International Finance Corporation, French Development Agency subsidiary Proparco, DEG, the German Development Finance Institution, and the U.S. International Development Finance Corporation on an aggregate of €600m in loans to be advanced to Aspen Finance.

Glyn Marais

Willem de Villiers and Francois Marais jointly lead the finance and banking group at Glyn Marais. De Villiers is noted for his acquisition funding, leveraged financing and syndicated lending and Marais is strong in tax-related finance matters. Debt capital markets and structured finance are also strengths of the team which acts for banks and other financial institutions.

Other key lawyers:

Francois Marais; Tamara Gerwel

Key clients

Sanlam

Naspers

Investec Bank

Absa Capital

DRA Global Holdings

Anglo American plc

Accelerate Property Fund

Sinosteel Corporation

Growthpoint Properties

AfroCentric Group

Sanlam Private Equity