Deals

Africa Logistics Properties, USD26.5 million Senior Loan Facilities

Apr 30, 2019

Stanbic Bank Kenya signed a USD26.5 million senior maiden loan facility with Africa Logistics Properties (ALP). This facility will fund ALP Nairobi North and ultimately facilitate the group’s expansion across the East Africa region.

Standard Bank was the hedge provider and was appointed main transactional bank for ALP in Kenya and Mauritius.

ALP is a leading specialist modern warehousing property investment company and has successfully raised USD60 million in commitments from investors and shareholders.

Its flagship project in Nairobi North is Kenya’s first international standard logistics and distribution centre consisting of 47,000 m² of prime warehousing on a 22-acre site. This project won the Best Industrial Project in Africa award at the 2018 Africa Property Awards and also achieved the World Bank’s EDGE building sustainability certification - the first industrial warehousing complex to achieve this benchmark in Africa.

The winning and execution of this opportunity in a competitive process demonstrated Standard Bank’s execution and structuring capabilities across jurisdictions, as well as the extensive collaboration between various sector and product teams to provide the best funding solution for Africa Logistics Properties.

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