Linklaters has advised the lenders on the project financing of the 250MW Bujagali Hydroelectric Power Project on the Victoria Nile in Uganda. This transaction is the first greenfield power financing in Uganda and the largest private sector investment in east Africa to date. The total project cost was US$867.7m, including senior debt of US$613.8m and subordinated debt of US$68m, making it the largest private equity power investment in Africa. Senior loan facilities were provided by IFC, African Development Bank, European Investment Bank, Agence Francaise de Developpment, KfW, FMO, DEG, Proparco, Standard Chartered Bank and ASBA Bank, whilst IFC, FMO and Proparco also provided subordinated loan facilities. The equity PRI structure involved a claims cooperation agreement between the lenders and MIGA. Industrial Promotion Services (Kenya), Aga Khan Fund for Economic Development, Jubilee Investments Company (all part of the Aga Khan group) and World Power Holdings Luxembourg (owned by Blackstone SGP Capital Partners (Cayman) and Blackstone Capital Partners (Cayman) acted as equity partners in the deal. The Linklaters team was led by energy and infrastructure partner James Douglass and managing associate Martin Kavanagh.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more