TLG and Atlas Mara have signed a 2-year structured-credit deal for $10million.
TLG has invested via its Credit Opportunities Fund, marking this as TLG Capital’s 25th transaction since inception.
Partnering with Atlas Mara provides TLG with a great long-term opportunity to back a well-diversified banking platform with presence in West, South, and East Africa. Led by Bob Diamond as the chairman and John Staley as the CEO, Atlas Mara has a strong management team with a vast experience of working with different financial institutions across Africa.
Nigeria has always represented an important location for TLG within Africa. Recent reforms by the government to create a better economic environment have produced positive results. With Union Bank of Nigeria being Atlas Mara’s largest asset, we believe that the group is in a strong position to benefit from rising credit growth and consumer activity in the country.
Zhi Yong Heng, Head of Special Situations and Trading, who led the deal for TLG, said “Africa’s banking sector is one of the most compelling growth stories in the world today and we want to capitalise on it by taking strategic positions in Africa’s promising financial services markets. This deal demonstrates our long-term commitment to promoting financial inclusion and technological innovation in Africa. Through our partnership with Atlas Mara, we hope to reach more quality African businesses and this transaction represents an exciting step forward in our fund’s continued efforts to support growth and job creation in the region.”