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Rand Merchant Bank (RMB) (www.RMB.co.za) has acted as the sole arranger and lender to the GZ Industries Limited group (GZI) on a $47 million and NGN5 billion funding package, offering a tailored solution that positions the company favourably for growth and expansion in the future.
GZI is a leading manufacturer and producer of premium-quality aluminium cans for several leading global blue chip beverage brands in Africa and the largest pure play beverage packaging solutions provider in Africa. The Group has manufacturing facilities in Nigeria and South Africa with current production capacity of three billion cans per year and supplies into key regional markets in West and Southern Africa.
“RMB delivered a multi-jurisdictional, multi-currency solution that meets the requirements of both shareholders and management and that will position the Group to cater to increased demand across the continent,” said Chidi Iwuchukwu, Head of Investment Banking for Broader Africa at RMB.
The proceeds of this package will be used to facilitate the Group’s expansion to meet rising and complex customer demand underpinned by long term secured customer relationships across its markets.
“The package facilitated enhancement of the Group’s balance sheet while reducing its overall cost of capital. This will help to optimise the capital structure with increased flexibility for growth and dominance, ensuring GZI’s sustained market leading position and future expansion,” said Sibusiso Tashe, Co-head of Leveraged Finance at RMB.
Concluded Iwuchukwu: “The debt package is a demonstration of RMB’s partnership-driven approach, which puts the needs of clients at the heart of our structuring. We also brought to play RMB’s institutional partnerships with local institutions to deliver this offering.”
Distributed by APO Group on behalf of Rand Merchant Bank.
Contact:
Frank Oputeh
RMB Nigeria
[email protected]
This Press Release has been issued by APO. The content is not monitored by the editorial team of African Business and not of the content has been checked or validated by our editorial teams, proof readers or fact checkers. The issuer is solely responsible for the content of this announcement.
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