Structured Trade and Project Finance
On a direct basis and through its executives’ prior experience, Loita has advised on and structured and placed transactions in the African markets and global financial centers with a value in excess of US$ 6 Billion dollars.
Loita recognizes much of Africa’s future prospects lie in its own trade potential. However, this potential is often hindered by archaic banking practices which include relying solely on the strength of the borrower’s balance sheet or fixed assets. Therefore, Loita works closely with its clients to understand their businesses and their trade, working capital and project financing requirements. Through inter alia securitizing the receivables and other innovative structures Loita is able to match the clients funding requirements against its future cash flow.
Loita’s demonstrated expertise in this regard has paved the way for the successful completion of challenging trade and project finance transactions in non-traditional areas. Some transactions completed include:
- Malawi: advising on, structuring and arranging funding for a USD 35 MILLION Oil import facility against the country’s tobacco exports;
- Zimbabwe: advised on, structured and arranged funding for a USD 50 Million Oil Import Facility to the Reserve Bank of Zimbabwe against Mineral Export proceeds from Bindura Nickel;
- Ivory Coast: RASCOM USD 20 Million advised on, structured and placed with International Investors a long Term Note Issuance Facility for RASCOM a multilateral telecommunications operator owned by African governments;
- Rivers State Nigeria PPP USD 100 million successfully advised on, structured and placed a Build Own Operate Transfer (BOOT) structure for a Rivers State refinery;
- Zambia: successfully established the Exports Fund of Zambia a USD 100 Million export Fund for SMEs involved in the Agriculture and Mining value-chain, in joint venture with the Government’s Exports Board;
- Government of Kenya: successfully raised GBP 25 million for equipment financing through structured debt notes on behalf of the Ministry of Finance for Kenya Telecommunications Corporation placed in the international capital markets;
- PTA Bank (now TDB Bank): advised on, structured and pioneered the raising of bonds for the Bank on the regional stock exchanges of Kenya and Uganda, for the PTA Bank, a multilateral development bank owned by the Governments of COMESA;
- East African Development Bank: advised on, structured and pioneered the raising of bonds for the Bank on the regional exchanges of Kenya, Uganda and Tanzania for the EADB Bank, a multilateral development bank, owned by the Governments of the East African Community;
- PTA Bank (now TDB Bank): successfully raised debt capital exceeding USD 500 Million for the use of exporters in Zimbabwe, Malawi and Uganda using a proprietary structure known as the Structured Pre-shipment Financing Facility (SPFF);
- MTN Rwanda-successfully advised on, structured and raised the first commercial paper program in the Rwanda market for MTN’s working capital requirements;
- Zambia Consolidated Copper Mines USD 20 million –successfully advised on, structured and placed a warehousing and invoice discounting facility for the country’s copper mining company;
- Sheraton Hotel Nigeria USD 50 million successfully advised on, structured and placed a medium term debt restructuring facility;
- Malawi: Tobacco Pre-shipment Export Financing Facility USD 50 million successfully advised on, structured, and placed a facility for the securitisation of trade receivables for Malawi’s tobacco exporters.
Liberia: advising on, structuring and privately placing Tranche 1 of a USD 50 Million Facility for the issuance of Medium and Long Term Notes by the National Social Security and Welfare Corporation (NASSCORP).