Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding package for the construction and commissioning of Kibo’s African energy projects as they approach a final investment decision.
Under the terms of the engagement letter, Wimmer will be the exclusive sole global debt corporate finance adviser for all Kibo’s African project, except for its Mbeya coal-to-power project, in Tanzania, where it will not enjoy any exclusivity.
Wimmer is part of the Wimmer Group and is a global boutique investment bank that operates in the mining, oil and gas, alternative energy, real estate, infrastructure, aviation, shipping, aerospace, industrials and other sectors.
“Kibo is very pleased to have signed a formal engagement letter with an outstanding financial services provider like Wimmer,” said Kibo CEO Louis Coetzee.
“This formal engagement with Wimmer follows several months of discussion and negotiation and we are looking forward to working with Wimmer on securing the company’s debt requirements for its African energy projects.”