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Telkom – ECA financing
02 March 2011
A strong partner gets more flexible
Sneaking in before the clock struck midnight (it signed on December 31!), Barclays Capital and Absa Capital signed what is thought to be the largest Sinosure deal into South Africa to date. “China continues to be an important partner in Africa. Sinosure’s support is important in backing up the export offering and we expect to see significant volumes of Sinosure business into Africa in the future,” says Ed Harkins, director, capex financing solutions, Barclays Capital.
Richard Wilkins, director, capex financing solutions, Barclays Capital, comments: “This is Barclays first Sinosure-backed deal and we were very pleased with the way we closed this transaction which attracted support from a number of Chinese and international banks as lenders.”
The deal, a seven-year corporate loan, with a maximum two-year drawdown and five-year repayment period, and benefitting from a 95% political and commercial risk insurance...
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