Eversheds Sutherland advises GuarantCo on re-guarantee facility
05 Mar 2018
Eversheds Sutherland has advised GuarantCo Ltd on the provision of a re-guarantee facility, worth up to $74 million, to the guarantors of a number of financial institutions who provide loans to small and medium sized enterprises in Africa.
The facility, provided to the African Guarantee Fund for Small and Medium Sized Enterprises and the African Guarantee Fund pour les petites et moyennes enterprises (AGF West Africa), was signed 1 March 2018.
Eversheds Sutherland fielded a cross-border team with representation from the UK, Paris and Mauritius. The Eversheds Sutherland team was led by finance Partner Conrad Purcell, alongside Partner Jean-Francois Boisvenu and Senior Associate Ghjuvana Luigi.
Conrad Purcell, commented:
“We are delighted to have assisted GuarantCo on this significant transaction. This deal demonstrates the continuing diversity of financial solutions across Africa and will provide additional liquidity where it is most needed.”
Lasitha Perera, GuarantCo’s Chief Executive Officer commented:
“We are delighted to be able to partner with the African Guarantee Fund and increase support to SMEs active in the infrastructure sector in Africa. This collaboration between two local currency focused guarantors offers the potential for us to engage local financial institutions and investors in financing the entire value chain in an African infrastructure project.”(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)