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Johannesburg - Absa Capital, the corporate and investment
banking division of Absa Bank, has acted as the sole bookrunner for a $115m
facility for MultiChoice Africa and MultiChoice Africa Holdings.
MultiChoice is a division of Naspers [JSE:NPN].
The transaction was highly successful, achieving a tight
margin and oversubscription in a market characterised by volatility, said Absa
Cap.
The structure allows MultiChoice Africa to increase the
amount of the financing in various jurisdictions and currencies within the
same umbrella structure, thus significantly minimising costs and the execution
timeline for future financings.
"This transaction demonstrates the strength of our
continued relationship with MultiChoice, and the ability of Absa Capital to successfully
lead transactions in a volatile market environment," said David Renwick, head of global finance at Absa Capital.
* Fin24 is a Naspers publication.
