Deutsche Bank’s export finance team land TXF Perfect 10 award for Ghana railway financing
Deutsche Bank’s Structured Trade and Export Finance team won a second award after the GTR accolade of 4 May for the Ghana Ministry of Finance EUR600m export finance and tied commercial loan package to rehabilitate almost 100km of railway track in the country
Pictured (centre) Deutsche Bank’s James Pumphrey holding the trophy with Investec’s Chris Mitman on his left. The pair also went on to join fellow contributors to the ICC’s Sustainability in Export Finance report on the award podium to pick up TXF’s Industry Choice innovation award
The deal is made up of two loans to Ghana’s Ministry of Finance. Deutsche Bank acted as mandated lead arranger (MLA) for both loans:
- The first, backed by Swedish export agency EKN and fully arranged by Deutsche Bank, EUR523m loan covering the bulk of the cost
- The second is a EUR75m commercial loan arranged and structured by Investec to cover the down payment on the EKN-backed financing. It is backed by ECIC and funded by a syndicate of Investec Bank Ltd, Rand Merchant Bank, a division of FirstRand Bank Limited, Nedbank Limited (London branch) and Sanlam life Insurance Limited (acting through its Sanlam Capital Markets division).
Deutsche Bank’s Head of Structured Trade & Export Finance Europe James Pumphrey said, “We’re all delighted to have this recognition for a transformational transaction. The new standard gauge railway line will create job opportunities, help the environment and improve community safety by reducing the number of vehicles on the roads.”
The award was presented at an awards ceremony on 8 June 2022 by the TXF team at the annual Global Export, Agency & Project Finance conference – held in Lisbon, Portugal.