Proactive Investors - Run By Investors For Investors

Kibo Energy appoints corporate finance adviser to look into an up to US900mln project finance corporate credit line facility

The group said the facility 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
Shares leap
Kibo said the current main focus is global project and acquisition financing for larger transactions typically from $50mln and larger

Kibo Energy PLC (LON:KIBO) shares soared higher on Wednesday after news it has appointed Wimmer Financial LLP to advise the company on, and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to US$900mln.

The group said the facility 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.

READ: Kibo Energy CEO, Louis Coetzee, reviews a year of progress

It said the current main focus is global project and acquisition financing for larger transactions typically from $50mln and larger.

Under the terms of the corporate finance engagement letter, Wimmer will assume the position of exclusive Sole Global Debt Corporate Finance Adviser, excluding the company's Tanzania project, on which it will not enjoy any exclusivity.

Wimmer is a global boutique investment bank with a focus within mining, oil & gas, alternative energy, real estate, infrastructure, aviation, shipping, aerospace, industrials, and other sectors.

Louis Coetzee, CEO of Kibo, said: "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."

In late afternoon trading, Kibo Energy shares were nearly 98% higher at 2.17p.

View full KIBO profile View Profile

Kibo Energy PLC Timeline

Related Articles

The main access road to Hexagon and MinRes’ McIntosh Graphite Project in WA
January 31 2019
The MinRes JV partner expects a mineral resource update this quarter ahead of study work.
Project area
February 12 2019
Forecast life-of-mine gold production jumps to 289,000 ounces following a new resource estimate and mine design.
1547726049_zinc-periodic-3.jpg
January 17 2019
Constantine Metals has a broad portfolio of assets in Alaska and Ontario

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use