Our team represented the lending consortium in the ZAR 1billion-plus financing for Afric Energy Resources Proprietary Limited

Cliffe Dekker Hofmeyr represented the lending consortium (Standard Bank of South Africa acting through its Corporate & Investment Banking Division in its capacity as preference share agent; Nedbank Limited acting through its Corporate & Investment Banking Division; Firstrand Bank Limited acting though its Rand Merchant Bank Division; Liberty Group Limited; and Avbob Mutual Assurance Society) in the ZAR 1 billion-plus financing for Afric Energy Resources Proprietary Limited, a subsidiary of Phembani Group Proprietary Limited. The deal funded the acquisition of shares in Engen Limited and the refinancing of existing debt in the group.