Izak commenced his articles with Hofmeyr Herbstein and Gihwala (now Cliffe Dekker Hofmeyr) in 1998. He joined De Brauw Blackstone Westbroek (Amsterdam) in 2001. Izak relocated to Dubai in 2005 where he was employed as a Senior Associate at Afridi & Angell. He also held a number of senior legal positions at Nakheel PJSC and ultimately became the Head of Legal (Commercial) at Nakheel. He re-joined Cliffe Dekker Hofmeyr in 2012 as a Director.

  • Advising FirstRand Bank Limited (acting through its Rand Merchant Bank division) (as arranger) in respect of a large-scale refinancing and a ZAR1 billion domestic medium term note programme issuance by a South African private company;
  • Advised Old Mutual Alternative Investments Proprietary Limited and the Old Mutual Retirement Accommodation Fund in their financing of the Amber Glades Retirement Village property development (comprising 160 retirement housing units and an 8-bed frail care facility to be sold by way of life rights and sectional title units) through a combination of share subscriptions, shareholder loan finance and senior debt facilities to the value of R161,000,000;
  • Advised Taquanta Asset Managers (Pty) Ltd on senior and mezzanine facility agreements of ZAR78.4 million to Manxman Investments (Pty) Ltd in order to fund the acquisition of a shopping mall in the Northern Cape;
  • Advised Futuregrowth Asset Management (Pty) Ltd on various senior and mezzanine project finance and property development facilities advanced to various borrowers in South Africa to fund the acquisition and development of various residential/hospitality real estate projects, including –
    • Surrey Place – ZAR143.5 million, secured property finance facility;
    • Simgos House – ZAR100.5 million, secured property finance facility;
    • Kruger Shalati – ZAR49.1 million, secured development finance facility;
    • The Village - R180.6 million, secured property finance facility;
  • Advised Greenpoint Capital (Pty) Ltd on various matters in relation to on-shore and off-shore loan facilities (with entities from Malta, the United Kingdom, the Isle of Man and Australia) and security thereof for an approximate value of EUR9 million;
  • Advised Geddes Capital (Pty) Ltd on a secured revolving credit facility agreement for a total amount of ZAR200 million where we acted for the South African borrower SPV who borrowed from a British private company (as lender) for purposes of on-lending to various clients throughout South Africa;
  • Advised Grindrod Bank Limited on various facility agreements including mortgage facility agreements for purposes of, inter alia, property acquisition financing;
  • Advised Redbill Holdings (Pty) Ltd on mezzanine financing of a waste to value project;
  • Advised Nutreco (Dutch Company) in connection with the acquisitions of South African companies, including complete due diligence and assisting in transaction structure negotiations;
  • Advised Solar Capital on the project financing of a solar renewable project in Loeriesfontein, with a deal value of ZAR1.5 billion;
  • Advised Solar Capital on a large-scale refinancing of its De Aar Renewable Projects, with a deal value of approximately ZAR2.4 billion;
  • Advised BioTherm on project financing of four Renewable Energy Projects (PV & Wind), with an aggregate deal value of approximately ZAR5.2 billion;
  • Advised Investec on a project finance loan facility of R105 million to be utilised for the financing of an Organic Rankine Cycle Plant;
  • Advised Nedbank (BoE Private Equity Investments) in connection with an equity investment in Comsol;
  • Acts for RMB and Investec in respect of loan facilities (including secured, unsecured, bi-lateral, syndicated, term loan and acquisition facilities), including –
    • KBD – ZAR82.7 million, secured property finance facility for purposes of refinancing existing facilities and refurbishing a shopping centre owned by the borrower;
    • CPC – ZAR2.2 billion, TRP Guarantee bridge facility as credit support for the impending acquisition of all the shares of a JSE-listed entity by the borrower;
    • Union-Swiss – ZAR170 million, secured facility agreement for purposes of financing the borrower's general corporate purposes;
  • Advised Gaia Infrastructure Capital on the acquisition of an effective economic interest in Coria (PKF) Investments 28 (RF) Proprietary Limited ("Noblesfontein Wind Farm");
  • Acts for companies and business rescue practitioners in connection with business rescue transactions, including corporate work related thereto;
  • Acts for lenders (senior, junior and mezzanine), preference share funders and borrowers, and advises them on all funding aspects including funding structures, risks and security arrangements;
  • Advised FNB on the restructuring of the funding of a property development to the value of approximately R200 million, which included FNB entering into a Joint Venture for the further development, sale and rental of erven in a township;
  • Advised Nedbank (BoE Private Equity Investments) on the investment in an information technology company with operations in South Africa and internationally;
  • Advised Vantage Mezzanine Fund II in relation to the granting of a mezzanine loan facility of R150 million to a property development company, for the financing of pre-development costs in relation to the development;
  • Advised South African Airways in relation to various aircraft lease novations including in relation to A319-100 and A340-300 aircraft;
  • Advised Nedbank Limited (acting through its Corporate Investment Banking division) on the provision of R600 million ZAR property financing to a property investment fund (an en commandite partnership);
  • Advised the Development Bank of Southern Africa (as borrower) on a USD300 million revolving loan facility with the New Development Bank (as lender) for purposes of the Development Bank of Southern Africa utilising funds to (retrospectively) finance various renewable energy projects in Southern Africa. This transaction was governed by English law;
  • Advised South African Airways on refinance of existing aircraft finances.
  • Advised SPIG SA (Italian Company) on various aspects of South African contract law;
  • Advised UK Climate Investments LLP (an English specialist in green infrastructure principal investment, project delivery and the management of portfolio assets, and related services set up by the UK Government) in respect of an investment into a South African CSP Power Plant by way of a ~R400 million secured loan facility by UKCI into a South African SPV. This transaction was governed by English law;
    • Commercial, Corporate, Finance, Joint Ventures,
    • Project Finance transactions in relation to various utilities required for the delivery of major real estate
  • Advised Zungu Investments Company Proprietary Limited on various corporate transactions and financing transactions, including preference share
  • Assisted in large scale due diligence reviews of project and corporate finance
  • Advised Botswana Development Corporation Limited on the acquisition of shares in Lobatse Clay Works Limited.
  • Advised a South African listed REIT on an acquisition of a UK
  • Advised Gaia Infrastructure Capital on the acquisition of an effective economic interest in Coria (PKF) Investments 28 (RF) Proprietary Limited ("Noblesfontein Wind Farm").
  • Advised an Old Mutual related Fund (AIIF3) on the Amendment and Restatement of a Letter of Credit Facility, Letter of Guarantee Facility and Forward Exchange Contract Facility given to AIIF3 by Nedbank, and adding a Bridge Facility with African Infrastructure Investment Fund 3 Clean Energy (a Mauritian borrower). The deal required:
    • drafting and negotiating all changes to the documents to accommodate the additional bridge facility;
    • ensuring that all partnership agreements allow for this;
    • structuring how capital contribution draw downs to limited partners will work;
    • adding AIIF3 as guarantor for the Mauritian borrower's obligations;
    • consideration of the existing security package and making sure that all existing sure applies to the new facility;
    • issuing a capacity and authority opinion on AIIF3, as well as the general partnership (being the general partner of AIIF3) and the ultimate general partner (being a private company) and an enforceability opinion on all South African agreements;
    • liaising with Mauritian counsel on the Mauritian aspects of the deal.
  • Advised Futuregrowth Asset Managers (Pty) Limited (as fund manager acting as agent on behalf of certain funds) in respect of the refinancing and amendment restatement of a facilities agreement with Africrest Properties Proprietary Limited to provide continued secured financing to the property group to acquire, renovate and manage properties in its R1bn portfolio
  • The Legal 500 EMEA 2021 recommended Izak for banking and finance.

Education

  • B.Comm LLB (cum laude), University of Stellenbosch
  • Year of admission as a South African attorney: 2000
  • Year of admission as a Solicitor of the Senior Courts of England and Wales: 2009
  • Registered with the Legal Practice Council

Memberships

  • Law Society of England and Wales