Finance & Banking

SunFunder (Arranger, Agent and Security Agent) and the Finance Parties

Our team advised the arranger, agent and security agent and the syndicate of lenders on the local law aspects of the financing to SunCulture.

The lenders included Nordic Development Fund; Triodos Investment Management, through its Hivos-Triodos Fund; SunFunder through its Solar Energy Transformation Fund; AlphaMundi through both its SocialAlpha and AlphaJiri Investment Funds; and the AfDB’s FEI OGEF managed by Lion’s Head. We advised on all local law aspects of the transaction, drafted the security agreements and dealt with all completion formalities.

The new loan is groundbreaking for the “productive use” solar sector due to its size and its innovative combination of working capital and end-user financing. More about the deal can be seen here: https://businessafricaonline.com/sunculture/  and https://www.sunfunder.com/post/groundbreaking-11m-syndication-for-sunculture-to-expand-solar-irrigation