FGL - Finbond - World Business Capital Inc provides Finbond with 10 year US $

FGL - Finbond - World Business Capital Inc provides Finbond with 10 year US $   
10 million (R 75 million) funding facility                                      
Finbond Group Limited                                                           
(Previously Finbond Property Finance Limited)                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2001/015761/06)                                           
Share code: FGL ISIN: ZAE000138095                                              
("Finbond" or "the Company")                                                    
World Business Capital Inc provides Finbond with 10 year US $ 10 million (R     
75 million) funding facility                                                    
Finbond is pleased to announce that it has signed a 10-year Credit Agreement    
totalling an equivalent of US $10 million with WorldBusiness Capital, Inc.      
(WBC), of Hartford, Connecticut in the United States.  The loan from WBC is     
supported by the Overseas Private Investment Corporation (OPIC), an agency of   
the U.S. government.                                                            
The facility is a 10-year senior secured loan of the Rand equivalent of US $    
10 million (R75 million rand).  The facility will enable Finbond to grow its    
short term microfinance book and expand its current network of 165 branches     
in South Africa, Namibia and Botswana.                                          
"We welcome the opportunity to support the growth of one of the leading         
microfinance lenders in South Africa. Finbond`s capacity for providing          
financial services to an underbanked segment of South Africa`s economy was a    
key factor in our decision to extend long-term financing with the support of    
OPIC`s small business programs," said Mr. Brett Silvers, President & CEO of     
WBC.                                                                            
Nova Capital Partners- an emerging market focused Investment Bank based in      
New York, USA- acted as lead financial advisor to Finbond in sourcing,          
structuring and executing the transaction. Mr. Paul Dixon, Managing Director    
at Nova Capital Partners, said, "The granting of this US$10 million facility    
by WBC with the support of OPIC is a compliment to and significant              
endorsement of Finbond and its management, particularly in the current          
economic and difficult fund raising environment. This facility was obtained     
following a detailed due diligence and it has been an honour for our firm to    
facilitate and advise Finbond on this important transaction. We look forward    
to continuing our efforts on behalf of the company and helping them to          
achieve their goals."                                                           
Dr. Willie van Aardt, Chief Executive Officer of Finbond, said: "We are         
privileged in these times to partner with  WBC and OPIC in the growth,          
development and expansion of our business..WBC and OPIC are credible and        
solid funding partners and we look forward to a mutually beneficial and         
rewarding business relationship."                                               
WBC has successfully closed loans to small and midsize businesses in emerging   
markets throughout the world. In 2003 OPIC entered into a cooperative           
arrangement with WBC to expand support for U.S. small business participation    
in overseas projects.                                                           
OPIC was established as an agency of the U.S. government in 1971. It helps      
U.S. businesses invest overseas, fosters economic development in new and        
emerging markets, complements the private sector in managing risks associated   
with foreign direct investment, and supports U.S. foreign policy. Because       
OPIC charges market-based fees for its products, it operates on a self-         
sustaining basis at no net cost to taxpayers.                                   
OPIC`s political risk insurance and financing help U.S. businesses of all       
sizes invest in more than 150 emerging markets and developing nations           
worldwide. Over the agency`s 38-year history, OPIC has supported $188 billion   
worth of investments that have helped developing countries to generate over     
830,000 host-country jobs. OPIC projects have also generated $72 billion in     
U.S. exports and supported more than 273,000 American jobs.                     
Pretoria                                                                        
23 February 2010                                                                
Designated Advisor:                                                             
Grindrod Bank Limited                                                           
Date: 23/02/2010 10:32:02 Supplied by www.sharenet.co.za                     
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