A consortium consisting of Absa Capital/Barclays Bank Zambia PLC, Citibank N.A. and Standard Chartered Bank Zambia Plc acted as joint bookrunners and mandated lead arrangers for the raising of ZMK400bn Term and Revolving Credit Facilities on behalf of Zambian Breweries (ZamBrew).
ZamBrew is the Zambian subsidiary of SABMiller plc (SABMiller).
The Facilities, which are guaranteed by SABMiller, will be used to refinance certain existing bank facilities, for general corporate purposes and to support ZamBrew's capital expenditures programme. The Facilities are split between a c.a. ZMK340bn term loan and c.a. ZMK60bn revolving credit facility. Both tranches have a three year tenor.
The transaction was launched at ZMK300bn but received commitments well in excess with ZamBrew electing to take up ZMK400bn.
Access Bank Zambia Limited, African Life Financial Services (Zambia) Limited, Bank of China (Zambia) Limited, Citibank Zambia Limited, First National Bank Zambia Limited Investrust Bank PLC, Stanbic Bank Zambia Limited, The Standard Bank of South Africa Limited, and Zambia National Commercial Bank PLC joined the transaction during general syndication. Standard Chartered Bank, London acted as agent bank with Chibesakunda & Co and Clifford Chance LLP acting as legal advisors to the Bookrunners.
This transaction represents the first syndicated loan for ZamBrew.Ends
ZamBrew is an 86.5% owned subsidiary of SABM. Based in Lusaka, ZamBrew’s core activities include the production and distribution of clear beer and soft drinks. SABM was founded in 1895, and is now one of the world’s largest brewers by volume. SABM has brewing interests and distribution agreements across six continents, producing and distributing a large variety of brands in over 60 countries. It is also one of the world’s largest bottlers of Coca-Cola products. Issued by:
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