Allen & Overy (“A&O”) advised African Frontier Capital (Mauritius) LLC (“AFC”) on a USD30 million solar receivables securitisation in Tanzania.
The transaction will help the Tanzanian subsidiary of d.light design Inc. (“d.light”), a leading global innovator of solar-powered products, to expand its pay-as-you-go business so that more low-income households in Tanzania can purchase the company’s solar-powered household products. Under the transaction, eligible receivables deriving from d.light’s customer contracts in Tanzania are sold to a special purpose vehicle which is in turn funded by a lender.
“AFC’s third securitisation in Africa with d.light (and a first in Tanzania) further demonstrates the use of securitisation as a scalable financing tool to help raise the capital required to support sustainable development goals in Africa. We are delighted to support AFC on this transaction” said Alex Moezi, Counsel in A&O’s Securitisation practice.
“We are happy we were able to assist on this first-of-its kind securitisation for AFC which we hope will help to sustain the off-grid solar energy industry in Tanzania” added Salim Nathoo, Partner in A&O’s Securitisation practice.
Alex Moezi led the A&O deal team in London (together with partner, Salim Nathoo) alongside Associates Umaang Trivedi and Sucheta Bhattacharya and trainee Camille Tournie.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
The advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
