Mashudu Mphafudi

Mashudu Mphafudi

Director

Mashudu Mphafudi is a Director in our Finance and Banking practice and provides business legal services in most areas of finance (debt and equity), projects finance, corporate finance, corporate and commercial law. He has extensive experience with the Development Finance Agencies, which he represents in a variety of transactions in banking and finance related mandates. He also acts for borrowers in finance related transactions.





t +27 (0)11 562 1093 f +27 (0)11 562 1693

Mashudu joined Hofmeyr (now Cliffe Dekker Hofmeyr) as a Candidate Attorney in 2001. He was appointed as an Associate in 2003 and promoted to Senior Associate in 2006. Mashudu became a Director in 2007.

Experience

Recent Deals

  • Advised on transaction wherein the South African Bank of Athens acquired 99.81% of the issued share capital in the South African Bank of Athens by Grocapital Proprietary Limited ("Grocapital"), a subsidiary of Afgri Proprietary Limited. The acquisition comprised a combination of debt provided by Nedbank Limited and equity made available by the shareholders of Grocapital including the Public Investment Corporation and Fairfax (a Canadian private equity fund). The total transaction value was in the region of R1 billion.
  • Advised the Public Investment Corporation in relation to its investments in the Oceans Hotel Development, which is a R4,3 billion hotel, retail and sectional title development. The investment comprises both equity and funding (in the form of preference share funding) and debt funding.
  • Advised the Public Investment Corporation in relation to the drafting of security documents and reviewing equity collar confirmation documents, in the Equity Collar transaction with CitiGroup Global Markets Limited represented by Clifford Chance LLP (London office). The transaction entailed the increase of the shares held by the Public Investment Corporation in MTN Group Limited by 10%.
  • Advised the Public Investment Corporation in relation to its investment in Phila Africa Proprietary Limited, in terms of which the Public Investment Corporation increased its shareholding in Phila Africa and provided equity loan funding. The estimated transaction value was R1,4 billion.
  • Lead adviser to thePublic Investment Corporation (acting on behalf of the Government Employees Pension Fund) in relation to the debt restructuring of its investee companies. One of the instruct was the restructuring of R500 million debt provided to Just Veggies Proprietary Limited.
  • Advised the Development Bank of Southern Africa ("DBSA") in respect of a USD300 million loan from the New Development Bank ("Bricks Bank") to the DBSA for purposes of enabling the DBSA to increase the electricity generation from renewable energy sources and to reduce greenhouse gas emissions in South Africa as articulated in the National Development Plan 2030. 
  • Advised the DBSA in relation to a term loan facility provided to the Scatec Solar Projects for three energy projects, these included: Sirius Solar PV project One, Dyason Klip 1 and Dyason Klip 2. Scatec Solar was awarded preferred bidder status for the three projects in Upington of 258MW in the fourth bidding round under the REIPP Programme.
  • Lead adviser to RH Managers Proprietary Limited in relation to the funding it provides to BEE groups in relation to the acquisition of private hospitals in Africa.  

 Other Transactions

  • Lead Attorney for DBSA in relation to the debt restructuring of Cell C, the transaction value was in the region of R3 Billion rands.
  • Lead Attorney for Busamed Proprietary Limited in relation to the acquisition by Busamed of the Gateway Private Hospital and the Hillcrest Private Hospitals, and the negotiations in relation to the acquisition by Growthpoint Properties of the property acquisition of the same transaction, with a deal value of R1,3 billion rand.
  • Lead Attorney for Public Investment Corporation SOC Limited in relation to the equity and debt investment in Sub-Sahara Industrial Holdings Proprietary Limited, Surtees Group Holdings Proprietary Limited, with a deal value of R600 million rands.
  • Part of the team that advised Industrial Development Corporation Limited, Nebank Limited, Standard Bank of South Africa Limited and Development Bank of Southern Africa relating to the debt facilities provided to the Illangalethu Project with a deal value in the region of R3 billion rands.
  • Lead Attorney for the debt restructuring in LA Crushers Proprietary Limited for the debt and equity investment made by the Public Investment Corporation SOC Limited valued over R150 million rands.
  • Lead Attorney for the Development Bank of South Africa in relation to the debt restructuring of Neotel Proprietary Limited and Nexus Connexion Proprietary Limited, with a transaction value of R 3 Billion rands.
  • Lead Attorney for the Public Investment Corporation SOC Limited in relation to a Project Finance facility in Mozambique to the value of R1 Billion rand
  • Lead Attorney for the Development Bank of South Africa in relation to the Kathu Round 4 Project for the senior facility investment in the region of R120 million.
  • Lead Attorney for the Public Investment Corporation SOC Limited in relation to the equity investment in AFGRI Proprietary Limited, with a deal valued of R2 billion.
  • Lead Attorney for the Public Investment Corporation SOC Limited in relation to their funding of the BEE Parties acquisition of an equity stake in AFGRI Proprietary Limited for a value of R800 million.
  • Lead Attorney for the Development Bank of South Africa in relation to the Kathu Round 3 Project for the senior facility investment in the region of R350 million.
  • Lead Attorney for the Development Bank of South Africa in relation to the Jasper Round 2 Project for the senior facility investment in the region of R800 million.
  • Lead Attorney for the Development Bank of South Africa in relation to the debt restructuring of the Blue Ridge Mining.
  • Lead Attorney for ABSA Capital on relation to a deb facility to PES (Pty) Ltd for an amount of R100 Million rands.
  • Lead Attorney advising Busamed Proprietary Limited in the aggregate amount of over R1,2 billion project finance provided by Standard Bank of South Africa, Futuregrowth and the Public Investment Corporation SOC Limited in relation to the following facilities (1) the Busamed Mooderfontein Private Hospital, Busamed Paardevlie Private Hospital, Busamed Harrismith Private Hospital and the Busamed Braamfischer Private Hospital Facility.
  • Lead Attorney for KDPH Private Hospital in relation to the project finance provided by the KZN Growth Fund with a deal value of over R200 million rands.
  • Lead Attorney for RH Managers Proprietary Limited in various private hospital equity investments mandates.
  • Lead Attorney for the BEE Consortium in the Kathu IPP Project in respect of the 75MW Project based in Kathu, Northen Cape Province.
  • Advised Build Africa Proprietary Limited in relation to an offshore debt facility of R50 million for purposes of investing in the Kathu IPP Project;
  • Part of a team that advised Sephaku Cement Proprietary Limited in the negotiation and settlement of the equity and debt term sheet with Nedbank Capital in respect of the R2 billion Cement Project.
  • Advised the Development Bank of Southern Africa ("DBSA") in respect of a USD300 million loan from the New Development Bank ("Bricks Bank") to the DBSA for purposes of enabling the DBSA to increase the electricity generation from renewable energy sources and to reduce greenhouse gas emissions in South Africa as articulated in the National Development Plan 2030. 
  • Advised the DBSA in relation to a term loan facility provided to the Scatec Solar Projects for three energy projects, these included: Sirius Solar PV project One, Dyason Klip 1 and Dyason Klip 2. Scatec Solar was awarded preferred bidder status for the three projects in Upington of 258MW in the fourth bidding round under the REIPP Programme.

Publications

  • Who’s Who Legal 2013 identified Mashudu as a leading lawyer for project finance.
  • Legal 500 EMEA 2018 recommended Mashudu in Banking and Finance.
  • IFLR1000 2018 recommended Mashudu as a "rising star" for Banking, Project finance and Capital markets: debt. In 2019 and 2020, he was listed as a highly regarded lawyer for Banking, Project finance and Capital markets: debt

Education

  • BJuris, University of Johannesburg
  • LLB, University of Johannesburg
  • LLM, University of Johannesburg
  • HDip (Labour Law), University of Johannesburg
  • HDip (Company Law), University of the Witwatersrand,
  • Certificate (Competition Law), University of the Witwatersrand,
  • Certificate in Banking and Finance, University of the Witwatersrand,
  • Year of admission as an attorney: 2003
  • Enrolled with the Legal Practice Council