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Browsing: special economic zone (SEZ)
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 …