Sole Mandated Lead Arranger and Structuring Bank

Dec 01, 2017

Burgan Cape Terminals secured a project financing facility of R670 million for the construction and development of a new fuel storage facility in the Cape Town Harbour. Standard Bank was the Sole Mandated Lead Arranger, Structuring and Hedging Bank. A carefully constructed hybrid structure was formulated to mitigate risk in the underlying lease agreement. 

Burgan Cape Terminals is a newly formed Special Purpose Vehicle (SPV) created solely for the purposes of the project with the key anchor shareholder and sponsor being VTTI, a Vitol entity. VTTI has over 9 million cubic metres of storage capacity in 12 countries across five continents. The focus of these state-of-the-art terminals is on creating quality, flexible, efficient and safe assets run by highly skilled people. VTTI’s safety record is among the highest in its sector, and it continues to develop and invest in new assets around the world. 

Standard Bank’s expertise and knowledge in constructing bespoke project financing deals was called on to facilitate the successful entry of a major international player into Africa.
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