South African banking and finance practice closes Futuregrowth transaction

A team of lawyers from our South African practice recently closed a large transaction for Futuregrowth Asset Management Proprietary Limited (Futuregrowth), advising them on the mezzanine financing for the acquisition of shareholder interests in Enyuka Prop Holdings by OneEighty Holdings Two, and the refinancing of certain existing debt.

Norton Rose Fulbright assisted Futuregrowth in the restructuring of the mezzanine funding structure and negotiations with the shareholders of Enyuka Prop Holdings and the senior lenders, in addition to advising the Futuregrowth credit committee on the revised structure, related risks and advising on and suggesting risk mitigation factors. The mezzanine facility was provided as part of a larger R1,3 billion financing involving two South African banks and Futuregrowth as senior lenders.

The team advising on the transaction was led by Izak Lessing, a Director in our Cape Town office and supported by Senior Associate Tshegofatso Rammutla.