Standard Chartered Bank, WestLB and Caterpillar Finance have been appointed as mandated lead arrangers (MLA) and underwriters by Tiomin Resources to arrange an eight-year senior secured term loan of $120 million for the construction of the Kwale titanium mineral sands project in eastern Kenya. This is believed to be the largest foreign investment project in Kenya to date.
Underwriting commitments provided are subject to finalization of due diligence and final internal approval of each of the MLAs. In addition, the African Development Bank (AfDB) may participate with the underwriters as an MLA,...
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