Sboniso Cibane
Biography
Overview
Sboniso Cibane is an associate in the Firm's Global Debt Finance Practice based in Johannesburg. He advises and represents sponsors, banking institutions and other credit providers on various forms of financing transaction – including leveraged finance, acquisition finance, asset finance, and restructurings and work-outs. His practice spans bank-side and sponsor clients, debt capital markets, public finance, and restructurings.
Prior to joining private practice, Sboniso served as law clerk to Chief Justice Mogoeng Mogoeng and Acting Justice Nambitha Dambuza at the Constitutional Court of South Africa and Justice Malcolm Wallis of the Supreme Court of Appeal of South Africa.
Experience
Leveraged Finance
Representation of Sasol Limited and certain of its subsidiaries in letter of credit facilities provided by Citibank N.A., South Africa branch, Citibank N.A., London branch, Citibank Europe PLC, UK branch, and Citibank Europe PLC.
Representation of FirstRand Bank Limited, Absa Bank Limited, iVuzi Investments (RF) Limited and The Standard Bank of South Africa Limited on the ZAR9.15 billion preference share and loan funding facilities for the Mediclinic Group.
Representation of Nedbank Limited, as lender, on its provision of an aggregate of ZAR2.3 billion in facilities for Hyprop Investments Limited, as borrower.
Representation of senior finance parties on the intercreditor arrangement relating to the ZAR1.2 billion for Africa Data Centres Proprietary Limited.
Representation of FirstRand Bank Limited (acting through its Rand Merchant Bank division) on the ZAR300m facility for Primedia Holdings Proprietary Limited and a syndicate of banks on the refinancing of ZAR2.9 billion senior facilities for Primedia Proprietary Limited.
Representation of Puma Energy Holdings Pte. Ltd. and certain of its South African and Namibian subsidiaries in connection with borrowing base facilities provided by a club of South African and Namibian banks.
Representation of FirstRand Bank Limited (acting through its Rand Merchant Bank division), and Nedbank Limited (as existing lenders) on a US$145 million streaming facility by Triple Flag Mining Finance Bermuda Limited for Royal Bafokeng Resources Proprietary Limited.
Representation of The Standard Bank of South Africa Limited and Nedbank Limited on the ZAR955 million bridge loan facility for Newshelf 1064 (RF) Proprietary Limited, a subsidiary of Brimstone Investment Corporation Limited.
Representation of Adapt IT Holdings, (amongst others), on the ZAR755 million facilities provided by The Standard Bank of South Africa Limited.
Representation of The Standard Bank of South Africa Limited on the ZAR752m facilities for HTSA Towers Proprietary Limited.
Special-purpose acquisition company in connection with the acquisition and initial public offering of a telecommunications technology company.
Representation of The Standard Bank of South Africa Limited on ZAR1.2 billion facilities for Africa Data Centres Proprietary Limited.
Representation of Finance Parties on facilities for HKA Global B.V. and HKA Global Proprietary Limited (accession of South African obligors).
Representation of The Standard Bank of South Africa Limited and Nedbank Limited on the ZAR955 million bridge loan facility for Newshelf 1064 (RF) Proprietary Limited, a subsidiary of Brimstone Investment Corporation Limited.
Representation of Development Bank of Southern Africa on the facilities for the Ekurhuleni bus rapid transit system.
Representation of Nedbank Limited (as existing lender) on a USD30m production financing facility by Orion Mine Finance for Bushveld Vametco Alloys Proprietary Limited.
Representation of Absa Bank Limited on a US$8 million facility for a rolling stock leasing company.
Representation of Investec on the ZAR180 million facility for Comair Limited.
Representation of Investec Bank Limited in connection with preference share funding transaction for Irusad (RF) Proprietary Limited, and the Trustees for the Time Being of the Dasuri Trust.
Representation of Calshelf Proprietary Limited in respect of the preference share-funded acquisition of shares in Bombela Concession Company.
Representation of Absa Bank Limited on the ZAR275m facility for United Manganese of Kalahari Proprietary Limited.
Representation of The Standard Bank of South Africa Limited on the ZAR53 million term loan facility for Stoneland 2202 Proprietary Limited for purposes, inter alia, acquiring shares in Bud Group Proprietary Limited.
Sustainability Finance
Representation of the he Standard Bank of South Africa Limited (as the mandated lead arranger, bookrunner and sustainability coordinator) on the ZAR6 billion sustainability facilities for Motus Group Limited.
Representation of Nedbank Limited as arranger, sustainability coordinator and sustainability agent on the ZAR3.1 billion facility for Old Mutual.
Representation of The Standard Bank of South Africa Limited (as the lender, facility agent and sustainability coordinator) on the ZAR1.8 billion sustainability loan facilities for Sea Harvest Group.
Representation of The Standard Bank of South Africa Limited (mandated lead arranger, bookrunner, sustainability coordinator and facility agent) on the ZAR1.7 billion sustainability loan facilities to the Oceana Group.
Corporate Finance (Investment Grade)
Representation of Nedbank Limited, The Standard Bank of South Africa Limited, FirstRand Bank Limited, Ivuzi Investments (RF) Limited and Stanlib Asset Management Proprietary Limited, among others, on ZAR10.5 billion facilities for the Imperial Logistics group.
Representation of Nedbank Limited on the ZAR3.5 billion for Northam Platinum Limited.
Representation of Nampak Limited, Nampak Products Limited and Nampak International Limited (collectively, Nampak) (as borrowers) on the refinancing of ZAR1.7 billion and US$176 million (respectively) syndicated multicurrency loan facilities.
Representation of International Finance Corporation on the ZMW200 millio facility for Stanbic Bank Zambia Limited.
Capital Markets: Debt/Equity
Representation of Absa Bank Ltd., Deutsche Bank AG, London Branch, HSBC Bank plc, Nedbank Ltd. and Rand Merchant Bank as joint bookrunners on the Republic of South Africa's dual tranche issuance of US$1.4 billion in 5.875% notes due 2032 and US$1.6 billion in 7.300% notes due 2052.
Representation of Mobile Telephone Networks Holdings Limited (a subsidiary of MTN Group Limited) on the update of its ZAR35 billion Domestic Medium Term Note Programme listed on the JSE Limited.
Representation of Aveng in connection with a fully co-underwritten rights offer to restructure its balance sheet and deleverage.
Representation of iNguza Investments (RF) Limited on the issuance and listing of iNguza the listing of its Floating Rate and Zero-Coupon Notes.
Funds
Representation of FirstRand Bank Limited (acting through its Rand Merchant Bank division) on the US$200 million facility for a Guernsey-base fund.
Representation of FirstRand Bank Limited (acting through its Rand Merchant Bank division) on a US$20 million facility for a Guernsey-based fund.
Representation of FirstRand Bank Limited (acting through its Rand Merchant Bank division) on a US$10 million facility for a Luxembourg-based investment holding company.
Representation of Investec Bank Limited on a ZAR200 million facility for South Africa and Mauritius-based funds.
Public Finance
Representation of JPMorgan Chase Bank, N.A., Johannesburg Branch on the ZAR1 billion facility advanced for Transnet SOC Ltd.
Representation of Absa Bank Limited, African Export-Import Bank, Development Bank of Southern Africa Limited, FirstRand Bank Limited, Investec Bank Limited, Nedbank Limited, and The Standard Bank of South Africa Limited on the ZAR15 billion facilities for Eskom Holdings SOC Limited.
Representation of Telkom SA SOC Ltd on the ZAR3.1 billion (aggregate) facilities provided by a The Standard Bank of South Africa Limited and Industrial and Commercial Bank of China.
Representation of a club of South African banks on the ZAR2 billion post business rescue commencement facilities for South African Airways SOC Ltd.
Representation of KfW IPEX-Bank GmbH on the ZAR1.6 billion facility for Transnet SOC Ltd.
Representation of The Standard Bank of South Africa Limited in connection with South African Reserve Bank/South African National Treasury COVID-19 Loan Guarantee Scheme.
Real Estate Finance
Representation of The Standard Bank of South Africa Limited, and FirstRand Bank Limited (acting through its Rand Merchant Bank division) on US$300 million facilities for Lango Real Estate Limited, and various of its subsidiaries in Ghana, Nigeria and Zambia.
Representation of The Standard Bank of South Africa Limited, and FirstRand Bank Limited (acting through its Rand Merchant Bank) on the US$50 million bridge facility for Growthpoint Investec African Properties Limited.
Representation of Absa Bank Limited, FirstRand Bank Limited (acting through its Rand Merchant Bank division), and The Standard Bank of South Africa Limited in connection with three EUR and ZAR facilities (approximately ZAR6.1 billion in aggregate) for Pareto Limited.
Regulatory
Advising Industrial and Commercial Bank of China on banking regulation in South Africa.
Advising Industrial Development Corporation on various issues relating to the South African Public Finance Management Act, 1999.
Advising Fundación RECON on the regulation on social enterprises under South African law (including advice on the types, registrations, reporting, taxation and dissolution of business structures in South Africa).
Restructurings / Work-Outs
Representation of a consortium of South African lenders on the business rescue proceedings of South African Airways SOC Limited (in business rescue).
Representation of a South African bank on the business rescue proceedings of Comair Limited.
Representation of a South African bank on the restructure of debt facilities of Pembani Group.
Representation of Aveng Limited on the restructuring of its debt in South Africa and recapitalisation of its foreign subsidiaries.
Representation of lenders and other finance parties on the restructure and security enforcement scenarios relating certain loan facilities to EOH Mthombo.