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Cape Town’s historic R3.5 Billion infrastructure leap with Nedbank
City of Cape Town secures R3.5 billion in finance towards record infrastructure spend.
The City of Cape Town (CoCT) has secured R3.5 billion in funding from Nedbank for a large-scale infrastructure investment project, reaffirming Nedbank’s long-standing partnership with the CoCT. The project will run between July 2024 and June 2027, as approved in its 'Building for Jobs' budget.
This is South Africa’s largest-ever infrastructure investment by a metropolitan municipality in a 3-year period, demonstrating Nedbank’s support for CoCT’s capex programme. The investment will help fund critical infrastructure development and maintenance spurred on by a growing population through semigration and ageing infrastructure.
This transaction demonstrates our commitment to being the public sector bank of choice and showcases our support for the roll-out and maintenance of critical water, sanitation and other social infrastructure.
Remo Moyo, Managing Executive of Client Coverage at Nedbank Corporate and Investment Banking
As the CoCT’s banking partner, Nedbank understands the city’s unique needs and ambitions, so when CoCT approached the market for R8 billion in facilities to fund its capital expenditure programme for FY23/24 and FY24/25, we had a competitive advantage.
Nedbank’s role as the winning bidder was to price competitively and structure an instrument for maximum flexibility and cost-effectiveness for the city. The 15-year facility we offered suits the CoCT’s operating model and requirement for a long tenure.
We are pleased to secure further finance towards our ambitious infrastructure investment agenda, which we estimate will create 130 000 construction-related jobs alone over 3 years
Mayor Geordin Hill-Lewis
Cape Town accounted for a full 60% of the R100 billion in overall government infrastructure projects announced nationally in 2023, according to Nedbank's updated Capital Expenditure Project Listing: 2023, published in February 2024.
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Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
Published 23 Jul 2024 in nedbank:cib/deals
Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
Published 23 Jul 2024
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 04 Aug 2024 in nedbank:cib/deals
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 04 Aug 2024
