Africa-focused infrastructure company Mitrelli has secured a long-term export credit agency-backed financing facility from Deutsche Bank, supporting a major expansion project at a university in Angola.
The financing package was structured as a 19-year export credit facility totalling €130.9mn, which is 98% covered by Dutch export credit agency (ECA) Atradius DSB, alongside a five-year €3.8mn tied commercial loan. Deutsche Bank acted as mandated lead arranger and agent.
The funds will enable Angola’s Katyavala Bwila University to build four new faculties, covering disciplines including medicine, law and economics, in support of the country’s efforts to improve access to higher education, Switzerland-headquartered Mitrelli said.
The company described the transaction as a “milestone” in delivering ECA-backed education infrastructure in Africa, saying it provides Angola with long-term project financing on attractive terms.
Atradius DSB’s involvement means a significant portion of the project value will be sourced from the Netherlands, such as construction materials and university equipment.
“With financing secured, the project now enters execution,” Mitrelli said, adding the down payment has been received, enabling the first disbursement of funds.
“The Katyavala Bwila University financial close demonstrates how ECA-backed financing structures can mobilise international capital for impactful social infrastructure.”
Tzahi Malach, vice-president of structured finance at Mitrelli, said: “This was a challenging journey and through strong dedication and teamwork we were able to successfully reach financial close.”
Yoav Brick, the company’s structured finance director, added that closing the transaction “required close coordination across all stakeholders, ensuring that conditions were met in alignment and under tight timelines”.
The announcement comes less than a year after Mitrelli – working alongside French multinational Suez International – reached financial close on a water infrastructure project in Angola, consisting of a €200mn facility with HSBC backed by ECAs from France and Switzerland.
