Resilience of Mozambique portfolio

Despite macro-economic and geo-political headwinds, Grit’s Mozambique portfolio has remained resilient (as evidenced by the below metrics)

Tenancy update

ABILITY TO ATTRACT AND RETAIN TENANCIES

  • S2 Africa (Sonae)– Global Portuguese retailer- New 10 year lease @ US$16.00/m2 – paid in USD (previously lease was US$16.63/m2 paid in MZN
  • Barclays– Early renewal – 5 years @ US$23.05/m2  (previously US$22.17/m2)
  • Hollard– Early renewal – 10 years – same T & C’s

Mozambique debt

ABILITY TO SERVICE EXISTING DEBT

  • Commotor Debt: Standard Bank South Africa (US$38m)
    – Continued to successfully repatriate funds to service the facility

ABILITY TO SECURE NEW DEBT

  • Mall de Tete:
    – Bank of China facility (US$ 13.3m) at 6mth USD Libor +5.1%

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