PROJECT

Projects

Summary of Investment Information

Project Number

48804

Company Name

ASPEN TREASURY IRELAND LIMITED

Date SPI Disclosed

Sep 4, 2024

Country

South Africa

Region

Africa

Projected Board Date

Jul 2, 2024

Environmental Category

B - Limited

Status

Active

Last Updated Date

Sep 28, 2024

Department

Regional Industry - MAS Africa

Industry

other

Previous Events

Approved : Jul 2, 2024
Signed : Aug 6, 2024
Invested : Sep 25, 2024

Sector

other

Project Description

The proposed investment is an up to EUR500 million financing package comprising (i) an unsecured, straight senior loan (“A” loan) of up to EUR150 million from IFC and; (ii) mobilization of parallel loans of up to EUR350 million to Aspen Treasury Ireland Limited (ATIL), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited (Aspen or the Company). The financing will support: (i) Aspen’s corporate financing program to assist the Company in expanding its capacity to deliver medicines, diabetes insulin and paediatric vaccines in Africa; the Company’s investment in ongoing product development and acquisition of product portfolios; (iii) the Company’s investments in emerging markets manufacturing capabilities; and (iv) to refinance existing debt and strengthen the Company’s balance sheet.                                 

Associated Advisory Engagement

(i) IFC will provide services related to supporting Aspen in developing its decarbonization roadmap for its pharmaceutical facility in Gqeberha; and (ii) Aspen, along with other leading companies and industry leaders, will participate in IFC’s inaugural South Africa gender specific program focused on creating respectful workplaces, free from violence and harassment.                                         

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation