Norton Rose Fulbright South Africa advises Fedgroup Smart Agri Fund on R400 million revolving credit facility

Norton Rose Fulbright South Africa has advised Fedgroup Smart Agri Fund Proprietary Limited on a new R400 million revolving credit facility provided to Forward Finance Institutional Proprietary Limited. This transaction follows the conclusion of a R400 million term facilities agreement earlier this year between Fedgroup Smart Agri Fund and Forward Finance Institutional.

The revolving facility will support the acquisition of receivables between the Borrower and its clients, while also addressing short-term working capital requirements in the agricultural supply chain. Its flexible structure allows for multiple drawdowns on varied commercial terms, aligned to the needs of different "off-takers" and their acquisition arrangements.

"This transaction demonstrates our ability to deliver innovative financing structures that balance flexibility for borrowers with robust protections for lenders," said Izak Lessing, Banking and Finance director at Norton Rose Fulbright South Africa.

The deal team was led by director, Izak Lessing, supported by senior associate, Raveshnee Pakkiri and associates, Adrienne Hendricks and Dylan Hampton.

This deal underscores the firm's expertise in trade and receivables finance and marks a significant step forward in advancing agricultural finance solutions in South Africa.