Primewaterview, a Nigerian based Real Estate development & Investment company, yesterday announced that it has received $5 million from a $2-billion financing facility previously committed by Milost Global Incorporated, a U.S. private equity firm. Palewater advisory group served as advisers to the transaction. Primewater had previously drawn down the facility.
What will the funds be used for ?
The Company intends to use the proceeds of the second draw down to cover long – term working capital in Nigeria and also fund the completion of the New Head Office which is already 60 % complete. Primewater view hopes to access more funds sometime in the future.
Milost Global, founded by Mandla J Gwandiso in 2015 is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is also a provider of alternative capital, mezzanine finance and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development.
Mezzanine financing is a hybrid of debt and equity financing that gives the lender the rights to convert to an ownership or equity interest in the company in case of default, after venture capital companies and other senior lenders are paid.
Primewaterview Limited is a wholly owned Nigerian Company and was founded by Prince Adetunji Ogunwusi in 2005 and a subsidiary of Primewaterview Holdings Limited.
Prior to its incorporation in 2005, PrimewaterView Limited operated as an Investment and Real Estate Company. The company has completed various residential/commercial properties in Highbrow areas such as Ikoyi, Victoria Island and Lekki, Lagos Nigeria
Palewater Advisory Group is a multinational corporate and public affairs advisory firm with headquarters in New York. The company specialises in cross-border and Mergers and Acquisitions transactions, financing, public affairs, political campaign capital raising and strategy.