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Bain Capital to Subscribe to USD100m Convertible Bonds in China Logistics Property
China Logistics Property Holdings has agreed to issue Bain Capital Credit USD100m convertible bonds at an initial conversion price of HKD3.19 per share. The proceeds from the bonds will be used for the repayment of existing indebtedness and other general corporate purposes. Read More
IFC, IFU, and Proparco Invest USD108.5m in African Health Care Company Humania
International Finance Corporation, IFU, and Proparco have agreed to provide up to USD108.5m in equity financing to health care company Humania to help improve medical care in Morocco and Egypt. The package comprises USD45m from the IFC, USD43.5m from IFU on behalf of the Danish SDG Investment Fund, and USD20m from Proparco. Read More
CDC Commits USD100m to Helios IV and Closes USD100m Trade Finance Risk Sharing Facility with SocGen
CDC Group has made a USD100m commitment to Helios Investors IV, a pan-African fund managed by Helios Investment Partners. CDC has also closed a USD100m trade finance risk sharing facility with Société Générale. The facility will support Société Générale’s efforts to increase the limits that it currently provides to local banks and extend limits to new banks in Africa. Read… Read More
Warburg Pincus Sells Remaining Stake in Indian Pharmaceutical Company Laurus Labs for ~USD84m
Warburg Pincus has exited its remaining 11.68% stake in Mumbai-listed drugmaker Laurus Labs for USD84m. Warburg originally acquired a 32% stake in the company in 2014 and divested part of its shares through the company’s IPO in 2016 and through a recent transaction in May 2020. Read More
FMO Commits USD10m to Eco.business II Sub-Fund
FMO has approved the commitment of USD10m to Eco.business II Sub-Fund, an open ended debt fund managed by Finance-In-Motion, which will invest in ecologically sustainable businesses with a special focus on fighting deforestation in sub-Saharan Africa. Read More
FountainVest and Tiger Global Lead USD750m Series E for Chinese Edtech Zuoyebang
FountainVest and Tiger Global Management led a USD750m Series E for China-based edtech Zuoyebang, with participation from Qatar Investment Authority, Sequoia Capital China, Softbank Vision Fund I, Tiantu Capital, and Xianghe Capital. Read More
KKR Acquires 11.9% Stake in Filipino Power Developer First Gen Corp for USD192.2m
KKR has agreed to acquire an 11.9% stake in Philippines-listed power developer First Gen Corp for USD192.2m through its Singapore-based subsidiary Valorous Asia Holdings. Read More
Carlyle Acquires 20% Stake in India’s Piramal Pharma for USD490m
The Carlyle Group has agreed to acquire a 20% stake in the pharmaceutical unit of Indian conglomerate Piramal Enterprises for USD490m. Read More
IFC Provides USD50m in Financing to Equity Bank Kenya
International Finance Corporation has agreed to provide a USD50m senior loan to Kenya-based financial services provider Equity Bank Kenya under its COVID-19 Emergency Response WCS Envelope. The loan will expand the Bank’s lending operations to MSMEs in Kenya. Read More
Bond Capital Invests Undisclosed Amount in Indian Edtech Byju’s
US-based VC Bond Capital has invested an undisclosed amount in India-based edtech Byju’s, joining investors General Atlantic, Tiger Global Management, and Tencent. Read More
East Ventures Reaches First Close for Southeast Asia Seed Fund
Southeast Asia-focused VC East Ventures has reached a first close for its latest seed fund targeting USD88m. The vehicle will focus on tech investments in digital companies in Southeast Asia in the aftermath of COVID-19. Read More
IFC Commits USD25m to Lorax Fund II
International Finance Corporation has agreed to invest up to USD25m in Lorax Fund II, a vehicle targeting USD250m and focused on mid-cap companies with growth potential primarily in Egypt. Read More