Rand Service provider Financial institution (RMB), a subsidiary of the FirstRand Group and a number one company and funding financial institution, has closed a $285 million acquisition financing for BlueCore InfraCo Restricted.
Appearing as International Debt co-ordinator, Mandated Lead Arranger (MLA), Underwriter and Bookrunner, RMB structured and part-funded a complete $285 million debt financing answer to help BlueCore InfraCo’s acquisition of Glover Gasoline & Energy B.V., the 100 per cent proprietor of Axxela Restricted, one in every of Nigeria’s non-public gasoline and energy distribution platforms.
RMB additionally delivered a bespoke funding answer that enabled BlueCore Infraco to finalise the transaction inside brief timelines and served as unique sell-side adviser to Helios Funding Companions, the outgoing shareholder, guaranteeing a seamless transition to native Nigerian possession.
Head of Funding Banking, Africa for RMB, Chidi Iwuchukwu, famous that “this milestone transaction showcases RMB’s potential to ship built-in, high-impact options that unlock worth for our shoppers whereas advancing Nigeria’s power transition. By enabling indigenous possession of strategic gasoline and energy property, we’re serving to to drive the shift towards cleaner, extra sustainable power.”
Executed beneath a compressed timeline, RMB’s differentiated strategy, leveraging its One Financial institution mannequin and deep sector experience, was instrumental in securing the deal amidst a aggressive bid course of involving over 15 events.
Lead Transactor and Head Leveraged Finance West Africa for RMB, Francis Oputeh, additionally famous that “this transaction displays our robust partnership with BlueCore InfraCo and underscores RMB’s management in structuring advanced, multi-stakeholder offers throughout Africa. It’s a testomony to our function as a trusted adviser delivering affect past finance.”
Commenting on the deal, Eric Idiahi of BlueCorp InfraCo famous “This acquisition marks a defining step in BlueCorp’s mission to strengthen Nigeria’s power infrastructure via indigenous possession. Partnering with RMB enabled us to safe a tailor-made financing answer that positions Axxela to drive gasoline commercialisation, reliability, and sustainability throughout the nation.”
