BFS - Blue - Receives R130 million funding from top European Development Bank
BFS
BFS
BFS - Blue - Receives R130 million funding from top European Development Bank
BLUE FINANCIAL SERVICES LIMITED
(Registration number 1996/006595/06)
(Incorporated in the Republic of South Africa)
JSE Code: BFS
ISIN: ZAE000083655
("Blue" or "the Group")
BLUE RECEIVES R130 MILLION FUNDING FROM TOP EUROPEAN DEVELOPMENT BANK
Blue Financial Services Limited announced the conclusion of a ZAR 130 million,
five year senior unsecured debt facility from AAA-rated Dutch entrepreneurial
development bank, the Nederlandse Financierings-Maatschappij Voor
Ontwikkelingslanden (FMO).
The funding is being specifically allocated to Blue Financial Services Mauritius
Limited, a wholly-owned subsidiary of Blue. The loan will be guaranteed by the
Group in South Africa and is to be used to fund the expansion of Blue`s consumer
finance book in the non-Rand Common Monetary Areas (operations outside of South
Africa, Lesotho, Swaziland and Namibia) of its operations. This is the second
financing transaction between Blue and FMO, which was originally concluded in
2007.
The facility and repayment is Rand based and therefore unhedged.
This funding announcement follows on the recently announced commercial paper
issues in Botswana and Zambia, where Blue raised R130 million to grow its loan
books in those markets.
Johannesburg
25 March 2009
Designated Adviser
PSG Capital (Pty) Limited
Date: 25/03/2009 14:29:02 Produced by the JSE SENS Department.
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