DEALS Maintaining strategic client relationships for their growth Absa | Corporate and Investment Banking > Insights and Events > Maintaining strategic client relationships for their growth SHARE Absa Corporate and Investment Banking (CIB) is proud to have supported MultiChoice Group (MultiChoice) in successfully completing a R12bn syndicated term loan facility. The funding transaction will enable MultiChoice to expand beyond its position as Africa’s leading video entertainment platform into a broader technology-based, consumer services ecosystem. MultiChoice is the largest video-entertainment provider in sub-Saharan Africa, delivering video entertainment to 23.5m households in 50 countries. The multi-bank transaction will provide MultiChoice with the financial flexibility and working capital funding required to continue growing its core linear video business, develop and scale its OTT operations and expand its other interactive services verticals. To accelerate the scaling of its OTT vertical, MultiChoice recently entered into a partnership with Comcast’s NBCUniversal and Sky. By leveraging the greatest local, international and sports content of the two partners, as well as Peacock’s world-class streaming technology, this partnership will ensure that Showmax subscribers have the best streaming experience on the continent. Absa remains a trusted funding and core transaction banking partner to MultiChoice, having previously acted as Mandated Lead Arranger, Original Lender and Facility Agent in support of MultiChoice’s second investment in digital and sports entertainment platform, KingMakers, in 2021 through a R4bn syndicated term loan facility. “We are proud to maintain a strong relationship with MultiChoice that enables us to support our client’s ambitions to enrich their customers’ lives by creating the entertainment and consumer services platform of choice for African households” said Prasanna Nana, Regional Sector Head at Absa CIB. https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Capital for sustainable impact Absa leads a landmark R4.9 billion deal with South Africa’s largest domestic infrastructure equity fund to support African Infrastructure Investment Managers’ (AIIM) strategy at directing capital towards Africa’s priority development sectors. Read more DEALS Empowering African Aviation to Soar Higher Absa Corporate Investment Banking enables strategic fleet reintegration and regional expansion for AELF and SAA with a USD 31 million aircraft refinancing solution. Read more DEALS Energising Progress with Africa’s Largest Standalone Battery Facility We are proud to have played a pivotal role in one of Africa’s most significant energy milestones: the Red Sands Battery Energy Storage Project which is set to become the continent’s largest standalone battery energy storage facility to date to move towards construction. Read more
