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21 Apr 2024, Edition - 3204, Sunday

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Ithuba to Facilitate Credit Enhancement Program of HGEL

Covai Post Network


Ithuba Credit Corporation Ltd. and High Ground Enterprises Ltd. (HGEL), through its Singapore subsidiary gets into an advisory appointment arrangement for the specific purpose of jointly creating a “Credit Enhancement Program”.


The appointment was signed through a first “Term-Sheet” confirming the willingness of both Parties to proceed on June 25, 2019, between Ithuba, which was represented by its CEO – Mr. Jean-Baptiste Bilala, and HGEL Chairman – Mr. Sandeep R. Arora. This Agreement was fully approved by HGEL Board during a special Board Meeting of the Company held last week at their Head-Quarters in Mumbai.


The Credit Enhancement Program led by Ithuba will facilitate the fund requirement of HGEL Group needed for their global Project(s) in both their divisions; Under EPC & Infra division the projects will be namely in the Power & Renewable energy sector (Electric Charging Stations & facilities), Water resources & River development, Rural sector (Consultancy & training) and Hybrid Annuity Mode Projects. Whereas under Media & allied activities, the areas of development will be – Content development, Post Production & Technical Services and to build up strength and niche positioning in the advertising, media and Content Integration space


The Credit Enhancement Private Placement within the Global Economic area aims to qualify Investors Worldwide under private Agreement with HGEL through the creation of a Medium-Term Note (MTN) Program, which will allow HGEL to raise funds for their Group development.


According to the MTN program, HGEL through its Singapore subsidiary will be able to place Ithuba debt securities, maturing in five (5) years with Rolls & Extensions, within the foreign market and obtain more cost effective financing, according to market analysts. "The union between Ithuba and HGEL can validate its capacity to finance all their Institutional and Technological Development Projects," the Company said in a statement last week at the Press Conference after their Board Meeting.


This will provide HGEL greater financial flexibility to support its growth and development of their Projects above mentioned and the promotion of their high-impact institutional Projects always considering long-term Assets held under Concessions, as well that will certainly help to extend the maturity profile of the Company's debt & financing Plan Worldwide.


By diversifying its funding sources, HGEL continued to rely on the solid relationships it has developed with its historic Banking and Financing Partners.


This issue of Private Placement Bonds was organized by Ithuba, acting as Principal Managers jointly with and on behalf of their new Client HGEL.


About Ithuba Credit Corporation Limited.

Ithuba Credit Corporation Ltd. operates as a Financing Institution. The Company offers an Asset and Loan Management Platform that provides Credit and Risk Management solutions and Loan services. Ithuba Credit Corporation Ltd. serves clients all around the world.


For more information, please visit www.ithubacreditcorporation.com.


About High Ground Enterprise Ltd.

High Ground Enterprises Ltd. (HGEL) has been consistently creating value for its Shareholders by integrating its expertise, experience, diversity, and entrepreneurial spirit. Consecutively since last four years the Company has been rewarding its Shareholders with Dividends and have shown aggressive Growth resulting in healthy Share Value. HGEL is poised to declare dividend for the fifth year and is hoping to continue doing so to maintain the confidence and trust of its Shareholders. HGEL is primarily diversified and operates under two niche verticals, which operates independently yet strategically positioned to interlink and compliment the Group’s core aim of generating optimum value to all its stakeholders.


HGEL’s two primary divisions corresponding to the Project List above mentioned being are


Div 1 – Infra/EPCM (Engineering Procurement and Construction Management), which includes Oil & Gas sector, Water Sources/Hydro projects, Road, Ports & Turn-key Infra projects and Project Management & Consulting;


Div 2 – Media & allied services (M&A), caters in advertising & media integration sector alongside the development and integration of content.


Since last 5 years the company has shown the average growth of more than 45% (forty-five percent) per year in terms of Revenue & Profits. HGEL is currently rated as BBB+ with Stable outlook (listing.bseindia.com).


For more information, please visit www.highground.in.

Source: Newsvior

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