Genser Energy Ghana reaches financial close on $366m funding

Genser Energy Ghana Limited (GEGL) has reached financial close for a $366 million funding package, including a new syndicated senior loan facility of $230 million, a mezzanine loan and preference shares. 

The senior loan facility was financed by a consortium of South African banks comprising of Standard Bank, Nedbank and the Development Bank of Southern Africa, alongside the Barak Fund, who was an existing lender to GEGL. As part of the structure Barak have also funded a mezzanine tranche. 

In addition, Genser Energy Holdings Limited, the Mauritius registered holding company closed a preference share investment from Africa 50.

GEGL was advised in this transaction by Northcott Capital Limited.