Phetole Modika

Phetole Modika

Partner Johannesburg, South Africa
T: +27 11 669 9419
E: phetole.modika@bowmanslaw.com
  • Overview
  • Experience

Overview

Phetole Modika is a partner in our Johannesburg office Banking and Finance department.

He specialises in finance (debt and equity), general banking and financial services. Phetole acts for various local and foreign banks in respect of finance and security structures, which include asset, project and/ or infrastructure funding as well as real estate, structured, leveraged and acquisition finance. He also regularly advises on large project finance and property finance matters in South Africa.

Phetole has an LLB from the University of the Witwatersrand and Certificates in Advanced Company Law I and II.

Specialist Services

Relevant Experience

  • Advising The Standard Bank of South Africa Limited and Absa Bank Limited in respect of ZAR 880 million term loan facilities provided to In2Food Group Proprietary Limited for the purposes of (i)  refinancing its existing indebtedness; and (ii) certain proposed acquisitions.
  • Advising Absa Bank Limited (acting through its Corporate and Investment banking division) in respect of ZAR 252 million term loan facilities provided to Bounty Financial Services Proprietary Limited and other members of its group for purposes of funding the acquisition of the Tuffy group of companies..
  • Advising Absa Bank Limited (acting through its Corporate and Investment banking division) in respect of ZAR 600 million term loan facilities provided to Bounty Financial Services Proprietary Limited and other members of its group for purposes of funding certain strategic acquisitions of the group.
  • Advising the Development Bank of Southern Africa (in its capacity as implementing agent for and on behalf of National Treasury) in respect of the roll-out and implementation of the Jobs Fund and drafting of the transaction documents in respect thereof.
  • Advising a project entity and its sponsors which included, amongst others, The Tata Power Company and Exxaro Resources Limited, in respect of the provision of various project financing facilities by The Standard Bank of South Africa Ltd and International Finance Corporation for the construction, development, operation and maintenance of a wind farm installation with an approximately 139MW net power generating capacity located in the Eastern Cape, South Africa.
  • Advising Nedbank Capital, Absa Capital and Sumitomo Banking Group on the provision of a project financing facility to Dorper Wind Farm (RF) Proprietary Limited, in respect of the construction, development, operation and maintenance of a wind farm under the Department of Energy’s Renewable Energy IPP Procurement Programme.
  • Advising The Standard Bank of South Africa Limited, the Industrial Development Corporation and Nedbank Capital on the provision of various project financing facilities to Red Cap Kouga Wind Farm Proprietary Limited, in respect of the construction, development, operation and maintenance of a wind farm under the Department of Energy’s Renewable Energy IPP Procurement Programme.
  • Advising South African Airways SOC Limited on (i) the novation of existing aircraft operating leases to third party lessors and (ii) the extension of current aircraft operating leases in accordance with its Long Term Turnaround Strategy.
  • Advising Nedbank Capital in respect of the various property finance facilities granted to Delta Property Fund Limited for purposes Delta Property Fund Limited’s (i) Initial Public Offering of 164,935,366 linked units, (ii) listing on the real estate and development sector of the Johannesburg Stock Exchange and (iii) acquisition of 19 commercial properties.
  • Advising Rand Merchant Bank on the provision of funding provided to Rebosis Property Fund, which facilitated the listing of Rebosis Property Advising Nedbank Limited on the provision of listing funding provided to the Hermans and Roman Property Fund, to facilitate the listing of Hermans and Roman Property Fund on the JSE Limited – estimated transaction value was approximately ZAR 3,5 billion; Fund on the JSE Limited.
  • Advising Rand Merchant Bank in respect of a ZAR 736 million development loan facility for the development and construction of new office park in South Africa.
  • Advising the HongKong and Shanghai Banking Corporation – Johannesburg Branch, Nedbank Capital, a division of Nedbank Limited, Absa Capital, a division of Absa Bank Limited and Rand Merchant Bank on the provision of a project financing facility to Tharisa Minerals (Proprietary) Limited, in respect of the construction, development, operation and maintenance of a R2,8 billion chrome mine.
  • Advising Absa Bank Limited in respect of to a ZAR 300 million term loan facility provided to Denel SOC Limited for the acquisition of BAE Land Systems (a division of Land Systems SA).