08 February 2017

Bowmans facilitates US$30 million African financing deal

Bowmans represented and advised Standard Bank and Stanbic Bank Botswana Limited in connection with a senior secured US$30 million multi-currency term, revolving and overdraft financing made available to eco-tourism company Wilderness Holdings Limited

A finance and banking team from pan-African law firm Bowmans represented and advised Standard Bank and Stanbic Bank Botswana Limited in connection with a senior secured US$30 million multi-currency term, revolving and overdraft financing made available to Wilderness Holdings Limited and a number of its subsidiaries.

Wilderness Holdings, considered one of the world's foremost responsible tourism businesses, will utilise the funding to expand and develop its infrastructure in Africa and promote sustainable tourism across the continent.

Wilderness Holdings Limited - listed on both the Botswana and Johannesburg Stock Exchanges - currently operates some 45 safari camps and lodges, and 10 scheduled overland safaris in Botswana, Congo (Brazzaville), Kenya, Namibia, Seychelles, South Africa, Zambia and Zimbabwe.

According to lead partner Jason Wilkinson: "This multifaceted deal was highly complex and contained multiple levels of security across Botswana and South Africa. It affords the borrowers access to long-term flexible funding in multiple countries and in multiple currencies that is designed to enable Wilderness Safaris to achieve growth aspirations on the African continent."

Wilkinson was supported in this matter by Bowmans senior associate Johan de Wet.