Standard Bank and Stanbic Bank Ghana support Genser’s growth ambitions with USD325m loan
20 Oct 2022
Country
Ghana
Year
2022
Sector
Energy and Infrastructure
Business Unit
Investment Banking
Specific Role
Debt arranger and coordinating bank
Standard Bank South Africa and Stanbic Bank Ghana are proud to have partnered with Genser Ghana Energy Limited to assist the company in raising capital for the next phase of its growth by providing the company with a USD325m syndicated loan facility.
This deal is significant in positioning Genser as an integrated energy company providing energy solutions across the West Africa region. With this financing, Genser will be able to take gas from the upstream that would otherwise be flared and put it back into the Ghanaian economy. The processed gas and associated hydrocarbons will be used as fuel to provide power to homes, LPG to displace kerosene and other more carbon emitting fuels as well as provide natural gas and liquids for the industrial sector.
Standard Bank South Africa and Stanbic Bank Ghana acted as the debt arranger and coordinating bank leveraging its on-the-ground presence and sector specialism to provide a comprehensive financial solution that is best suited to support Genser’s vision and growth ambitions.
This transaction allowed us to partner with a key local corporate that had few shareholders and a narrow, mainly local capital base and work with them to attract regional pan-African shareholders.