Izak Lessing

Director
Norton Rose Fulbright South Africa Inc

Cape Town
South Africa
T:+27 21 405 1345
Cape Town
South Africa
T:+27 21 405 1345
Izak Lessing

Izak Lessing

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Biography

Izak is a Banking and Finance lawyer based in Cape Town. He specialises in finance, banking, corporate and corporate finance transactions and also has experience in projects and construction.

Izak commenced his articles with a local law firm in 1998. He joined an Amsterdam based firm in 2001 before relocating to Dubai in 2005 and joining a firm as associate. He also held a number of senior legal positions at another Dubai property developer, and ultimately became the Head of Legal (Commercial). He returned to South Africa in 2011.

Professional experience

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  • BComm LLB (Cum Laude), University of Stellenbosch.
  • Attorney, qualified in South Africa 2000
  • Admitted as a solicitor in English and Wales 2009
  • Advised Medi-Clinic Southern Africa (Pty) Ltd and its group companies in connection with the refinance of the existing MCSA group term debt and upsize to ZAR8.4 billion sustainability linked loan facilities;
  • Advised  Old Mutual Alternative Investments (OMAI) and Education Investment Impact Fund of South Africa (Pty) Ltd (EduFund) in relation to the financing and development of a school in Beacon Bay, East London to be known as St. Joseph's School.
  • Advised Futuregrowth Asset Management (Pty) Ltd (FG) in relation to the refinancing and consolidation of various loans provided by FG to the Africrest group of companies in a total principal amount of ZAR830,500,000;
  • Advised the Development Bank of Southern Africa (as borrower) on a US$300 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 the Development Bank of Southern Africa on a US$50 million loan facility provided to be Government of Mozambique for part-financing of the Temane Transmission Project in Mozambique. This mandate involved non-concessional unsecured financing to a sovereign state. This transaction was governed by English Law;
  • Advised 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;
  • Acted 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.
  • The Legal 500 EMEA 2021 recommended Izak for banking and finance.
  • Legal Practice Council (South Africa)
  • Law Society of England and Wales

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