Major Social/Affordable Housing Project | Sao Tome and Principe - GIHL

EUR 100,000,000

Spent so far: EUR 6,000,000

Can spend more: No

Sao Tome and Principe

Residential RE Social/Affordable Housing

Assured repayment by: Independent and credible feasibility study | Other Off-Take Agreement

Submission Ready Indicators:

LTV Expectation: 50%

Land/Site: Owned

EPC Contracts: Signed

PPA/OMA or other off-take agreements: Signed

Financial Projections: Completed and available

Most PFX listed opportunities qualify for A+-rated Insurance Wrap

UK-based company is creating an SPE, a 5-year project aimed at the construction of a new neighborhood with 3,180 apartments in Sao Tome and Principe, in the Gulf of Guinea, on the intersection between Ecuador and Greenwich Meridians, literally at the "center of the world". The project is backed by an Off-take Agreement with a local government agency, valued at €190M and requires around €100M for the construction of its 3180 units. The off-take agreement, financial projections, and feasibility study all indicate that the project’s ROI is strong enough to repay the loan in less than 10 Years. To date, the sponsors have already committed over €6.1M to the project. The project sponsor has received a funding offer and they are currently looking for an equity partner to help guarantee the project loan.
EUR Year 1 Year 2 Year 3 Year 4 Year 5
Turnover 
10,002,700 
41,216,200 
42,459,571 
43,741,236 
45,062,155
EBITDA 
5,920,783 
24,349,961 
25,087,435 
25,848,025 
26,636,965
% 
59%
 
57%
 
57%
 
59%
 
59%
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