Absa Capital, the corporate and investment banking division of Absa Bank Limited, and affiliated to Barclays, acted as the sole bookrunner for a $115 million facility for MultiChoice Africa Limited and Multichoice Africa Holdings (Multichoice Africa).
The transaction was highly successful, achieving a tight margin and oversubscription in a market characterised by volatility. The structure allows Multichoice Africa to increase the amount of the financing in various jurisdictions and currencies, within the same umbrella structure, thus significantly minimising costs and the execution timeline for future financings that might be required.
“This transaction demonstrates the strength of our continued relationship with MultiChoice, and the ability of Absa Capital to successfully lead transactions in a volatile market environment,” said David Renwick, Head of Global Finance at Absa Capital.
EndsNote to the editor: About Absa Capital
Absa Capital, a division of Absa Bank Limited (Absa) and affiliated to Barclays, is a leading South African corporate and investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe. About MultiChoice Africa
MultiChoice Africa is a provider of multichannel pay-television and subscriber management services in 48 countries in sub-Saharan Africa and the adjacent Indian Ocean Islands. Issued by:
+27 11 214 2420
+27 82 309 email@example.comFor further information contact:
Marketing and Corporate Communications
+27 11 895 6695
+27 79 695 firstname.lastname@example.org