LONDON, 26th July 2016 – Phillip Fletcher, a Milbank finance partner provided commentary in a recent International Financial Law Review (IFLR) article on African Development Bank’s (AfDB) US$1.34 billion loan facilities for South Africa’s power utility (Eskom) to support its capital expenditure programme, which includes investments in new generation, plant refurbishment, transmission lines, and capacity building in excess of US$ 17 billion to help increase energy reliability in South Africa and in the southern African region.
Phill, working with senior associate Nike Johnson, led the Milbank team advising AfDB financing helping to secure the largest syndicated A/B loan in Africa.
In the IFLR article, Phill commented: “the integrated financing represents one of the largest A/B structured loans ever undertaken by a multilateral agency.” He also added: “If the AfDB can continue to mobilise large-scale bank lending through it’s A/B loan programme, that’s going to add a lot of liquidity to the African corporate and projects markets.”
Phill is a member of the IFLR Advisory Board.
