Transaction Summary
In April 2025, South African retail distributor The SPAR Group Ltd. (SPAR) secured a R4.5 billion ($240 million) syndicated loan facility arranged by a consortium led by Investec Bank, alongside major South African banks including Standard Bank, FirstRand (RMB), Absa, and Nedbank. The facility is structured as senior unsecured debt, combining term loans and revolving credit to refinance existing debt (primarily obligations from its exited Polish subsidiary) and fund SPAR’s targeted expansion within Southern Africa. This marks SPAR’s first syndicated financing, streamlining its debt obligations and bolstering liquidity for strategic African growth initiatives. SPAR operates in eleven countries, with South Africa being the largest market. Key operations are also present in Namibia, Botswana, Eswatini, Zambia, and Mozambique, primarily through franchise partners. Its core business is grocery wholesale and retail distribution: SPAR supplies independently owned SPAR supermarkets, Build It (hardware stores), and other formats via its network of distribution centres.
Terms
- Fund
