METAIR INVESTMENTS LIMITED - Refinancing of Metairs Bridge Loan Facilities

Refinancing of Metair’s Bridge Loan Facilities

Metair Investments Limited
(Registration number 1948/031013/06)
(Incorporated in the Republic of South Africa)
Share Code: MTA       ISIN: ZAE000090692
(“Metair”)


REFINANCING OF METAIR’S BRIDGE LOAN FACILITIES



On 12 August 2014, Metair, acting through its two wholly owned subsidiaries, Inalex Proprietary

Limited and Nikisize Proprietary Limited, entered into formal agreements for the refinancing of the

facilities extended by Absa Bank Limited (“Absa Bank”) for the acquisition of the Turkish battery

manufacturer, Mutlu Aku Ve Malzemeleri Sanayii Anonim Sirketi by way of the issue of preference

shares in an aggregate amount of ZAR 1.4 billion (“Refinancing”).



The preference shares carry a dividend rate of 69% of the South African prime rate, nominal annual

compounded monthly, and are redeemable over a period of 5 years commencing no earlier than 3

years and 1 month from the date of issue.



The Refinancing includes a revolving credit facility, which will be used for general corporate purposes.

The revolving credit facility has a tenor of 5 years and attracts interest at 2.05% over the ruling

Johannesburg Interbank Agreed Rate.



The Refinancing is subject to the fulfilment of conditions precedent customary for transactions of this

nature. These relate to formalities prescribed in the Companies Act, 71 of 2008, as amended ("Act")

regarding financial assistance and verification of each borrower and guarantors' incorporation and

authority under the Act and their respective Memorandums of Incorporation, save in respect of off-

shore subsidiaries where compliance with the relevant laws of each jurisdiction has been verified and

the necessary approvals have been obtained. These are expected to be fulfilled imminently.



Standard Bank Limited (“Standard Bank”) will subscribe for the entire preference shares issue and

Absa Bank, Investec Bank Limited, and Standard Bank have committed to the revolving credit facility.


Through the Refinancing, Metair achieved its objective of securing funding at very competitive rates

and a structure which will provide it with the necessary flexibility in pursuing future strategic

opportunities.



Johannesburg

13 August 2014



Advisor, Global Coordinator, and Bookrunner:

Absa Bank Limited, acting through its Corporate and Investment Banking Division



Attorneys to Metair:

Tabacks Corporate Law Advisors



Legal counsel for Absa Bank, in its capacity as arranger of the financing:

Webber Wentzel



Sponsor to Metair:

One Capital

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