Rand Merchant Bank (RMB) acted as the sole arranger and lender on a $47 million and NGN5 billion fundraising package for the GZ Industries Limited group (GZI), providing a bespoke solution that positioned the company favorably for future growth and expansion.
GZI is Africa’s largest pure-play beverage packaging solutions provider and a prominent maker and producer of premium-quality aluminum cans for numerous leading global blue chip beverage brands. The Group has manufacturing facilities in Nigeria and South Africa, with an annual capacity of three billion cans, and provides significant regional markets in West and Southern Africa.
“RMB provided a multi-jurisdictional, multi-currency solution that satisfies the needs of both shareholders and management.”
The proceeds of this package will be used to facilitate the Group’s expansion to meet rising and complex customer demand underpinned by long term secured customer relationships across its markets.
“The package facilitated enhancement of the Group’s balance sheet while reducing its overall cost of capital. This will help to optimise the capital structure with increased flexibility for growth and dominance, ensuring GZI’s sustained market leading position and future expansion,” said Sibusiso Tashe, Co-head of Leveraged Finance at RMB.
Concluded Iwuchukwu: “The debt package is a demonstration of RMB’s partnership-driven approach, which puts the needs of clients at the heart of our structuring. We also brought to play RMB’s institutional partnerships with local institutions to deliver this offering.”