Original disclosure @ IFC website
Updated in EWS Feb 21, 2022
Disclosed by Bank Feb 9, 2022
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According to bank provided information, the proposed IFC investment seeks to support Respublica Group (Pty) Ltd (“Company” or “RG”), a holding company that owns a 100% stake in each of Respublica Student Living (Pty) Ltd (“RSL”) and Respublica Management Services (Pty) Ltd (“RMS” or “Manco”). The Company is a leading student accommodation provider operating ~8,900 beds across South Africa. The Company is raising $34m initially with approximately US$23 million additional commitments. The initial commitment will allow the company to reduce the current debt raised to consolidate all its assets under RSL, and also to grow its portfolio through greenfield developments and conversions.
The total Project cost is estimated at US$57m million and will be funded with a combination of debt and equity. IFC will provide an equity of up to US$19 million, not to exceed 20% of total capital.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Respublica Student Living (PTY) Limited||Client||-|
Respublica Group (Pty) Limited
Chief Executive Officer
+27 (0) 10 020 0326
Silverstream Business Park Building 1, Ground Floor10 Muswell Road Bryanston, Johannesburg, 2191South Africa
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