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Browsing: Emerging Africa Infrastructure Fund (EAIF)
- Moody’s has affirmed the long-term foreign-currency issuer rating of the Emerging Africa Infrastructure Fund (EAIF), a multi-donor financing mobilizer at A2, with a stable outlook.
- EAIF says this endorsement is a pointer to its strong capital position and highly rated shareholder base.
- Founded in 1991, EAIF says has concluded nine rounds of raising funds for infrastructure development in the past two decades.
Global rating agency Moody’s has affirmed the Emerging Africa Infrastructure Fund (EAIF) long-term foreign-currency issuer rating at A2, with a stable outlook.
According to the Jo’burg-based fund, this endorsement signals its “strong capital position, and highly rated shareholder base,” a pointer to resilience in Africa’s infrastructure financing market.
“We are delighted that EAIF’s consistent track record of performance – despite a challenging macroeconomic operating environment – has been reflected in our retention of the A2 rating,” said Martijn Proos, Co-head of Emerging Market Alternative Credit at Ninety One, …
PIDG company, the Emerging Africa Infrastructure Fund (EAIF) has announced that it has arranged the long-term debt finance for a €305 million new port development by Gabon Special Economic Zone Ports (GSEZ Ports) at Owendo, Gabon.
In addition to its sole mandated lead arranger role, EAIF is lending the company €40 million over 15 years, on a first ranked basis. GSEZ Ports is EAIF’s first project in Gabon. It is the largest industrial-scale infrastructure public-private partnership yet seen in the country. Financial close was achieved on 26 July.
The African Development Bank (AfDB), which led the structuring of the finance, is also lending €40 million. The new funds will refinance the project, releasing money for the largest shareholder to reinvest in other infrastructure projects in Africa, some in Gabon. 75% of the capital for the port project is shareholder equity.
GSEZ Ports has been awarded a 30-year concession to build …