Rand Merchant Bank acted as the sole arranger and lender on a $47 million, approximately N34.83 billion, and N5 billion fundraising package for the GZ Industries Limited group, providing a bespoke solution that positioned the company well for future growth and expansion.
The Punch reported that the largest pure-play provider of beverage packaging solutions in Africa, GZI is a prominent manufacturer and maker of premium-quality aluminum cans for numerous top international beverage brands in Africa.
The Group delivers into important regional markets in West and Southern Africa from manufacturing plants in Nigeria and South Africa with a current annual production capacity of three billion cans.
RMB’s Head of Investment Banking for Broader Africa, Chidi Iwuchukwu, stated that the company “delivered a multi-jurisdictional, multi-currency solution that meets the requirements of both shareholders and management and that will position the Group to cater to increased demand across the continent.”
The Group’s expansion will be facilitated by the profits of this package, which will be supported by long-term, stable client connections in all of its markets.
“The package enabled the Group to improve its balance sheet while lowering its overall cost of capital,” it said.
According to the Co-Head of Leveraged Finance at RMB, Sibusiso Tashe, this will help to improve the capital structure with enhanced flexibility for development and domination, assuring GZI’s continuing market-leading position and future expansion.
The debt package serves as an example of RMB’s partnership-driven strategy, which centers our structuring around the interests of our clients. To deliver this solution, we also utilized RMB’s institutional ties with nearby institutions, Iwuchukwu continued.
