Dentons Hamilton Harrison & Mathews acted as Kenyan law advisers to SBM Bank Kenya Limited and GuarantCo Ltd on a KES 1.6 Billion local currency finance facility to Bboxx Capital Kenya Limited. SBM Bank Kenya Limited provided the KES 1.6 Billion facility to Bboxx Capital Kenya Limited while GuarantCo supported the transaction with a KES 1.2 billion (USD 11.25 million) partial credit guarantee of 75 percent against the loan facility.

Our role in the transaction included drafting and advising SBM Bank Kenya Limited and GuarantCo Ltd on the finance documents. Additionally, we drafted and perfected the Kenyan law security document being an all asset debenture created by Bboxx Capital Kenya Limited in favour of SBM Bank Kenya Limited as the security trustee. We also led in the follow up process of satisfaction of conditions precedent by the Borrower. 

Our counterparts in Dentons London provided enforceability opinions on the English Law governed documents.

Bboxx Capital Kenya Limited is a next generation utility company, aiming to provide affordable solar home systems for 470,000 Kenyans. The transaction will contribute to United Nation’s Sustainable Development Goals: Affordable and Clean Energy (SDG 7) and Climate Mitigation (SDG 13) through increasing access to affordable and reliable energy.

The Dentons Kenya team was led by partner Richard Omwela working with associates Paula Ochango and Victor Sang and trainee Roselyne Mugo.

The English Law advice was provided by Dentons London, led by partner Ian Clements. 

Congratulations to all parties involved for a successful close to this transaction and a great start to 2022!

For a link to the Kenya Business Daily report on this transaction, please click here.

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