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Investec participates in Oceana’s R1.6 billion sustainability-linked loan

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Our role

Investec has participated in Oceana’s R1.6 billion sustainability-linked loan, which was used to refinance existing debt and provide additional facilities for growth. We participated in Oceana’s first sustainability-linked loan in 2021, and as a long-term banking partner to Oceana, we are pleased to again have participated in its most recent debt raise.  

By achieving sustainability goals linked to carbon emission reduction and injury frequency rate improvement in South Africa and Namibia, Oceana will benefit from reduced interest rates.

“We are so pleased to partner with Investec again on this term debt raise. The deal team was very knowledgeable and were a pleasure to deal with. Investec were able to integrate the commercials of the transaction together with the legal and sustainability clauses efficiently and effectively. We really value this relationship and always find it mutually beneficial.”   - Varsha Maharaj: Executive: Group Treasury

About Oceana Group Limited

Oceana was incorporated in 1918 in Cape Town and is listed on the Johannesburg Stock Exchange and the Namibian Stock Exchange and, more recently, the A2X stock exchange. Oceana is Africa’s largest fishing company and operates across Namibia, South Africa and the United States. In addition to catching, processing and procuring various marine species, the company also sells canned fish products (most notably Lucky Star), fishmeal and fish oil. The company sells their products across 41 countries and employs approximately 4000 people.

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