Bemo Securitization SAL and Bemo Investment Firm LTD Dubai (Group Banque BEMO) Announce the Successful Closing of the Debt Raising Transaction for IPT Powertech Group Holding SAL
Bemo Securitization SAL and Bemo Investment Firm LTD Dubai (Group Banque BEMO) Announce the Successful Closing of the Debt Raising Transaction for IPT Powertech Group Holding SAL
Structurers, Arrangers, and Placement Agents
Beirut, September 30th 2019: Bemo Securitization SAL (BSEC) and Bemo Investment Firm LTD Dubai (BIF) are proud to announce the successful closing of the debt raising transaction to finance three telecom energy service contracts in Lebanon and Guinea awarded to IPT Powertech Group Holding SAL (IPT)
IPT Powertech Group Holding SAL (IPT) is a leading global energy services company headquartered in Beirut with operations in over 50 countries and offices in 11 countries. Established in Lebanon in 1993, IPT has grown into a leading Telecom energy contracting group that combines power expertise with telecom infrastructure specialization and has become a market leader in providing to the telecom sector power solutions, specialty batteries, infrastructure and managed services.
BSEC and BIF successfully assisted IPT through their arranging, structuring, and placement capacity in raising USD 115 Million in long term debt required to finance the projects, USD 60 Million of which provided by the European Investment Bank (EIB), for which the IPT loan represented its first direct corporate loan in Lebanon, and USD 55 Million provided by a consortium led by the German Development Bank (DEG, a subsidiary of the KfW Group), and including Proparco (French Development Agency Group) and Finnfund (a Finnish development financier specialized in investing in developing countries).
Nabil Haddad, CEO of IPT commented: “This transaction is the cornerstone for a solid long-term relationship with EIB, DEG, Proparco and Finnfund which will enable IPT to further transform the telecom industry into a more sustainable and greener sector by providing our state of the art solutions.”
Ronald Yazbeck, SEO of BSEC and BIF added: “This transaction demonstrates the interest of European development finance institutions in providing tangible solutions to the pressing issues facing the region and developing countries. The successful closing of the transaction is the result of a remarkable collaboration with the IPT team and the DFIs.”
About BEMO Securitisation SAL
BSEC is a financial institution specialized in structured finance and investment banking services, which has been active in the industry for over twenty five years. BSEC’s credentials are well established in the local and regional markets.
BSEC is licensed as a financial institution under Lebanese law and is a wholly owned subsidiary of Banque BEMO SAL. BSEC is regulated by the Central Bank of Lebanon and is a member of the Association of Financial Institutions in Lebanon.
About BEMO Investment Firm LTD Dubai
BIF is a wholly owned subsidiary of BSEC offering financial advisory services throughout the MENA region. BIF works closely with both BSEC and BEMO Private Bank to originate business from the GCC and service the clients within the region. Its main business lines include M&A and Private Placement as well as Debt and Structured Finance.
