|INVESTOR BRIEF||SECURED MEDIUM TERM LOAN FOR GHANAIAN POWER COMPANY|
|Funding||$75 million in medium term debt payable over 20 quarters (5 years). Afreximbank has already committed $75 million.|
|Use of Funds||To partly refinance the power generator’s short term obligations.|
|Interest Rate||9% + 3 Month LIBOR.|
|Security||The facility is backed by receivables from a regional power distribution company and two subsidiaries of a major international mining company. The facility is also secured by an SBLC from Ecobank. In the unlikely event that receivables do not cover repayment or the borrower is unable to supply power, the SBLC will cover any shortfall in the payment of the loan.|
|Company Background||The borrower is a major Ghanaian power generation company, solely owned by the Government of Ghana. The borrower forms part of the recently restructured electricity generation, transmission and distribution chain in Ghana. The borrower combines hydro and thermal plants to generate electricity for supply to the local and export markets. The local market consists of the Electricity Company of Ghana (61% of market consumption), the mines, and industrial establishments (who purchase electricity directly) with the export market comprising the Republics of Togo and Benin and Burkina Faso.
The total installed capacity of borrower’s generation facilities is 2,186MW made up of 1,180MW hydro and 1,006MW thermal.
|More Information||Additional information made available upon request.|
|Contact||For more information, please contact: Mansur Nuruddin at email@example.com|
Disclaimer: This Investor Brief is being provided to you for informational purposes only. Although MNCAA takes great care in selecting unique investment opportunities for investors, all investors are fully responsible for any investment decisions they make, and such decisions must be based solely on their evaluation of financial circumstances, investment objectives, risk tolerance and the passing of due diligence checks. This Investor Brief is not intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or investment opportunity.