Absa Capital arranges a $115 million financing for MultiChoice Africa

Absa Capital, the corporate and investment banking division of Absa Bank Limited, and affiliated to Barclays, acted as the sole bookrunner for a $115 million facility for MultiChoice Africa Limited and MultiChoice Africa Holdings (MultiChoice Africa).

The transaction was highly successful, achieving a tight margin and oversubscription in a market characterised by volatility. The structure allows MultiChoice Africa to increase the amount of the financing in various jurisdictions and currencies, within the same umbrella structure, thus significantly minimising costs and the execution timeline for future financings that might be required.

“This transaction demonstrates the strength of our continued relationship with MultiChoice, and the ability of Absa Capital to successfully lead transactions in a volatile market environment,” said David Renwick, Head of Global Finance at Absa Capital.