RMB Secures $47M Funding for GZ Industries’ Expansion in Africa’s Market
Rand Merchant Bank (RMB) has acted as the sole arranger and lender to the GZ Industries Limited group (GZI) on a $47 million and NGN5 billion funding package, offering a tailored solution that positions the company favourably for growth and expansion in the future.
GZI is a leading manufacturer and producer of premium-quality aluminium cans for several leading global blue chip beverage brands in Africa and the largest pure play beverage packaging solutions provider in Africa. The Group has manufacturing facilities in Nigeria and South Africa with current production capacity of three billion cans per year and supplies into key regional markets in West and Southern Africa.
RMB 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.
Chidi Iwuchukwu, Head of Investment Banking for Broader Africa, RMB
The debt package is a demonstration of RMB’s partnership-driven approach, which puts the needs of clients at the heart of our structuring 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.
Sibusiso Tashe, Co-head of Leveraged Finance, RMB
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.
Chidi Iwuchukwu, Head of Investment Banking for Broader Africa, RMB