The client’s challenges were to buy an existing building in South Africa, convert it and connect it in terms of infrastructure.
Funding was to be provided in South Africa. At the time of the project, the company had not yet made any significant direct investments in South Africa, but had merely established a private company (roughly comparable to the German GmbH) in South Africa. There was a lack of business history. Working with a major German bank (the client’s commercial bank) and issuing a stand by letter of credit, local financing was found. The organization of the project, the proper set-up on the bank side, disbursement and settlement were carried out, monitored, reported and successfully completed by bridge builders.