Delphos advises Summa Turizm Yatirimciligi A.S. (“Summa”) on US 150 million financing for Freetown Lungi Airport in Sierra Leone
Delphos serves as sole advisor to leading Turkish developer on approved US DFC loan for landmark infrastructure transaction in West Africa
Delphos is serving as the sole financial advisor to Summa on a US 150 million financing, which received board approval this week from the US International Development Finance Corporation (“DFC”), for the Freetown International Airport in Sierra Leone. The financing will support Summa’s build operate and transfer (“BOT”) concession on the airport, issued by the Government of Sierra Leone. Delphos led a global distribution for the debt financing, and worked hand-in-hand with its client and the DFC team to structure a robust loan package tailored to both the lender’s and the project’s needs. The Freetown airport will be the third airport operated by Summa in West Africa, adding to assets in Senegal and Niger. The new terminal, which Summa constructed and delivered ahead of schedule, opened in March 2023.
“We are delighted to reach this pivotal milestone and thank the DFC team for its dedication thus far. Summa provides best-in-class infrastructure development and construction in frontier markets globally – and we are excited to add the Freetown airport to our portfolio. We look forward to progressing to financial close with DFC with the assistance of our advisor Delphos,” said Fatih Bora, CEO of Summa.
This facility will mark the first development bank financing for Summa, which holds an impressive roster of infrastructure assets across Sub-Saharan Africa, including hotels, airports, roads, arenas, and other facilities.
“We are proud to serve as financial advisor to Summa on this transformative project and thank them for their continued business. We at Delphos believe that well-structured debt financing is critical to building the infrastructure which African markets need to realize their economic potential in the coming decades. Thank you also to the highly capable team at DFC,” said Bart Turtelboom, Chair and CEO of Delphos.
About Summa:
Established by its Honorary President Mete Bora in 1989 in Ankara, Turkey, Summa carries out top quality operations in 14 countries in various sectors ranging from construction to energy. With 2,500 employees on 4 continents across the globe, we strive to ensure the satisfaction of our clients. The company is well-positioned to undertake challenges globally, supporting clients in fulfilling their vision. Acting always under the leadership of our clients, we deliver milestone projects that aim to enhance the development and welfare of the communities where we work. www.summa.com.tr
About Delphos:
Delphos is the definitive source for financing innovative financial solutions for development companies and projects. We specialize in raising long-term, competitively priced capital for corporates, fund managers, developers, SMEs, sovereigns, and entrepreneurs around the world. Since 1987, we have arranged more than $20 billion in development finance to support the efforts of over 1,200 companies. We tap into the resources of more than 350 government agencies and multilateral organizations worldwide to help clients realize their international business goals and have sustainable impact. In addition to our capital raising efforts, Delphos provides market-leading transaction advisory and investment/risk management consulting services to government and private sector clients across multiple industries. We are approved advisors to AfDB, DFC, IDB Invest, IFC, USAID, US Ex-Im Bank, USTDA, WBG, leading private equity firms, infrastructure developers and strategic investors, and foreign governments and utilities.
