RMB Namibia and Entrepo Holdings (Pty) Ltd (Entrepo) have entered into a N$900 million debt funding deal.
The funding according to RMB, aligns with Entrepo’s growth ambitions and aims to diversify its lender base.
“Entrepo is a term-lender and insurer.The funding is intended as growth capital for the business.”
The debt funding solution, arranged and implemented by RMB, allows lenders to provide funding under a common-terms agreement.
“The funding structure (via the Common Terms Agreement) allows Entrepo to scale their business by being able to easily access additional funding as their loan book grows. The solution RMB structured is akin to a debt funding platform that allows additional funders to slot in alongside incumbent lenders and share in the same security structure.This arrangement maintains flexibility on commercial terms being offered to Entrepo. RMB also extended significant funding under this arrangement to the client,” RMB said.
Steffen Müseler, a transactor at RMB Namibia, highlighted that the deal aligns with RMB’s goal of supporting African businesses within its institutional client group.
“For RMB, our support for entities such as Entrepo, which aim to provide term funding and long-term insurance products to government employees, resonates with our commitment to enabling Namibians to participate in the country’s economic activity,” he said.
“This unique structure marks a first in Namibia and demonstrates RMB Namibia’s ability to leverage its regional experience, skills, and resources to deliver value-adding banking solutions for its clients.”
Entrepo Holdings (Pty) Ltd specializes in lending to government employees and providing long-term insurance.