Investec Shipping and Marine Finance underwrites a senior debt facility of USD100m for AOS Cyprus Holding Limited
Investec Shipping & Marine Finance, part of Investec Bank plc, has arranged and underwritten a USD100m senior debt facility utilised to finance the acquisition of five accommodation barges deployed by AOS Cyprus Holding Limited in waters off West Africa. Led by CEO Kris Jakobsen and headquartered in Limassol, Cyprus, AOS (African Offshore Services) is a leading player in offshore accommodation in West Africa. The barges are leased to Sonangol, Total Angola, and ENI (Congo (Brazzaville)).
The five barges are:
1. The African Worker
2. The African Installer
3. The African Fjord
4. The African Lifter
5. The African Caribe
The seven-year term loan incorporates an interest rate swap provided by Investec’s Treasury Products and Distribution team.
Jeremy Dean, Head of Shipping & Marine Finance, commented: “We are delighted to have been able to assist AOS in completing this transaction and in positioning the company for future growth. We look forward to working closely with AOS in the coming months and years.”
Kris Jakobsen, CEO of AOS (African Offshore Services), commented: “This was an important financing for AOS to complete as it enables us to focus on our growth strategies. Investec were responsive to our requirements, pragmatic in their approach and delivered the deal in a timely fashion.”
Investec Corporate & Institutional Banking is a division of Investec Bank plc. The Investec Corporate & Institutional Banking division provides a wide range of specialist products, services and solutions to select corporate clients, public sector bodies and institutions.
Investec is an international specialist banking group that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia as well as certain other countries. The group was established in 1974 and currently has approximately 7, 000 permanent employees.
In July 2002 the Investec group implemented a dual listed company structure with listings on the London and Johannesburg Stock Exchanges.