Delphos International served as the sole financial advisor to Bayport Management Ltd. (“Bayport”), a leading emerging market financial services group, in obtaining a long-term, unsecured, holding company-level loan of $250 million from the U.S. Overseas Private Investment Corporation (“OPIC”) to fund the client’s expansion efforts in Sub-Saharan Africa and Latin America. The direct loan – which is among the largest that OPIC can provide for a single obligor – achieved first disbursement in January 2016.
Bayport provides financial solutions to formally and informally-employed individuals in emerging markets who are unable to access traditional banking and financial services. It currently operates in nine countries, Botswana, Colombia, Ghana, Mozambique, Mexico, South Africa, Tanzania, Uganda, and Zambia. The funds will be used by Bayport to accelerate growth of existing operations, expand in new countries, and launch new financial products. Bayport is backed by prominent investors such as Helios Investment Partners, Public Investment Corporation of South Africa, Investment AB Kinnevik, and others.
OPIC Press Release (https://www.opic.gov/press-releases/2016/opic-enters-250-million-partnership-bayport)