ESLA Plc, the institution established for purposes of raising money to clear the outstanding energy sector debts, has won the Best restructuring deal in the 2017 Europe, Middle East, Africa (EMEA) Finance Achievement Awards.
ESLA Plc, is part of nine transactions across the EMEA that have been tipped for this year’s awards.
A statement on the nomination from organisers of the award said, “Nominated by parties including banks and their clients, and chosen by the EMEA Finance editorial team, these houses and transactions exemplify the innovative work taking place in the region’s capital markets.”
It added, “We congratulate all of our winners on their achievements, landmark transactions, and important financings provided to the region’s leading companies and sovereigns.”
ESLA Plc in 2017, set to raise 6 billion cedis for the first tranche of the 10 billion cedis debt.
The managers of the transaction eventually raised some 4.7 billion cedis.
This comprised 2.4 billion cedis in the 7 year bond at an interest of 19 percent.
The ten year bond on the other hand accrued some 2.29 billion cedis at an interest of 19.5 percent.
The remainder of 5.3 billion cedis is expected to be raised by the end of the first quarter of this year – 2018.
Below is the full list of the various nominees;
Best refinancing in EMEA:
Kemerköy Yeniköy lignite fired power plants TL3.3bn loan
Best refinancing in CEE:
ICF Antalya Airport refinancing package
Best refinancing in the Middle East:
Mobily’s SAR8bn refinancing
Best refinancing in Africa:
Coca Cola Sabco East Africa’s loan facilities
Best repricing in EMEA:
Budapest Airport’s €1.39bn loan and note debt facilities
Best restructuring in EMEA:
E.S.L.A.’s GHS4.8bn local currency bonds for energy sector
Best restructuring in CEE:
Saint Nikola Wind Farm’s €117mn amended debt profile
Best restructuring in the Middle East:
Tasnee’s SAR2.9bn syndicated Islamic loan facility
Best restructuring in Africa:
Avesoro Resources’ acquisition of New Liberty gold mine
Source: Citi Business News