Bank of China provides $77 million loan to Mara Delta Property Holdings Limited in 2016

In 2016, Bank of China provided a $77 million USD loan to Mara Delta Property Holdings Limited, a Mauritius-registered company. The loan carries a maturity period of 5 years and an interest rate of 5.058%. Loan proceeds were in part used to fund the Acquisition of Rockcastle Global Real Estate Company Limited (registration number 100869/C1/GBL), a global business company incorporated and registered under the laws of Mauritius; and release the Standard Bank Facility Outstandings; and refinance all outstanding bank debt in respect of the Mara Delta Property’s previous acquisition from Rockcastle of a 50% interest in two Zambian retail properties (as announced on SEM and SENS on 20 October 2015) including that of the other 50% shareholder/s’ outstanding bank debt. In 2020, this facility was, subsequent to year-end, converted to a ZAR denominated facility for six years from November 2020 to December 2026 at three-month Jibar + 2.5%

Additional details

1. This loan carried a 5.058% interest rate (AidData calculated the interest rate as follows: 1.058% [average 6-month LIBOR in 2016] + 4% = 5.058%).

Number of official sources

2

Number of total sources

3