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Delphos Advises on ZAR 1.2bn Debt Capital Raise for Trident Steel Africa

Delphos arranges multiple commercial debt lines for Southern Africa’s largest specialized steel solutions business.

Delphos served as financial advisor to the new ownership consortium of Trident Steel Africa, facilitating a 1.2bn South African Rand (approximately USD 67mn) series of debt facilities. The financing, which is a combination of trading lines and medium-term debt, is being provided by ABSA Bank and Standard Bank of South Africa. Delphos was mandated on an exclusive basis and ran a competitive process with multiple South African banks. It worked hand-in-hand with its client to optimize the entire funding process – from inception through to closing. The debt financing lines will support the growth of the company, which was recently disposed of by Aveng, to the new ownership consortium led by South African and US private investors. Trident Steel Africa is a major supplier to the domestic automotive, rail, and mining sectors – key contributors to shrinking South Africa’s trade deficit through greater exports.

“We were honored to serve as financial advisor to Trident Steel Africa and thank them for their business and ongoing relationship. Delphos brought best-in-class fixed income expertise and capital markets connectivity to optimize the debt financing for our client. This is another landmark transaction for our debt advisory business as Delphos continues to grow in Southern Africa,” said Andrew Brown, President of Delphos Advisory.

Daniel Nell, CEO of Arbor Capital, the transaction advisors to the Purchaser group, said “We were delighted to work with the Delphos team and thank them for their tenacity in closing this important financing package. We benefited tremendously from their capital markets expertise, thereby achieving an optimal working capital package for the Trident business.”

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