BOWMAN GILFILLAN ASSISTS NAMIBIAN GOVERNMENT TO ACCESS SOUTH AFRICAN DEBT CAPITAL MARKETS
Bowman Gilfillan, a member of Bowman Gilfillan Africa Group, advised the Government of the Republic of Namibia and the mandated lead arrangers in connection with the precedent setting establishment of the Republic of Namibia R3 billion Medium Term Note Programme on the interest rate market of the JSE on 2 November 2012, and the inaugural issue of R850 million of Senior Unsecured 8.26% Fixed Rate Notes due 19 November 2022.
Jonathan Lang, head of Bowman Gilfillan Africa Group, commented: “The transaction has been described as pioneering as African sovereigns have begun to access South African capital markets on the JSE. The deal is expected to encourage other African nations to sell rand denominated bonds, contributing to resource mobilisation efforts across the continent.”
Casper van Heerden, head of the debt capital markets team of Bowman Gilfillan Africa Group, and the partner who lead the team on this transaction, said that he was encouraged to see sovereigns follow the trend set by large multinationals, such as Goldman Sachs International and BNP Paribas, in tapping South Africa’s capital markets.
Bowman Gilfillan deployed a team of three dedicated lawyers from its banking and finance and tax divisions on the project.