Zwide Mhlongo

Zwide Mhlongo

Partner
Johannesburg, South Africa
T: +27 11 669 9438
E: zwide.mhlongo@bowmanslaw.com
  • Overview
  • Experience

Overview

Zwide Mhlongo is a partner in the Banking and Finance Deparment of our Johannesburg office and a member of our Finance Practice.

Zwide has solid experience in corporate and commercial related work, competition law, litigation, corporate finance and management and implementation of large projects.

His practice is focused on corporate finance law, having built his experience in corporate legal practice at one of South Africa’s big five law firms whereafter he joined a leading financial services organisation as Senior Legal Counsel and later heading their legal team.  Prior to joining Bowmans, Zwide was General Counsel at a South African multinational retail company.

Zwide completed his LLB degree with the University of the Witwatersrand and is a Management Development graduate from the Stellenbosch University.  

Specialist Services

Relevant Experience

During the course of his career, Zwide has acted for various banks and financial institutions on a variety of transactions, which include the following:

* experience gained prior to joining Bowmans

Preference share finance

  • Preference share funding of up to ZAR 2.4 billion by Rand Merchant Bank, Nedbank Limited and Absa Bank Limited in relation to the subscription and purchase by MTN Zakhele Limited of shares in MTN Limited (more commonly known as MTN BEE Transaction).
  • Financing transaction pursuant to which Rand Merchant Bank, The Standard Bank of South Africa subscribed for preference shares up to a value of ZAR 3,528,545,000 in the issued share capital of a special purpose vehicle to enable such special purpose vehicle to subscribe for ordinary shares in the issued share capital of Pepkor Holdings Limited (the “Pepkor Transaction”).
  • Preference share funding of up to ZAR 1,080,000,000 by BHP Billiton Energy Coal South Africa Limited (BECSA) in relation to the introduction of a BEE shareholder in BECSA.

Aircraft financing

  • Term loan funding by FirstRand Bank Limited of an amount of USD 250 million for the acquisition by Comair Limited of 5 Boeing 737-800 aircraft.
  • Term loan funding by FirstRand Bank Limited in an amount of USD 72 million for the acquisition by Safair Lease Finance Proprietary Limited of 5 Boeing 737-800 aircraft.
  • Term loan funding by FirstRand Bank Limited in an amount of ZAR 1 billion for the acquisition by a SPV of 7 (seven) Q400 aircraft and the lease of these aircraft to South African Express Airways Proprietary Limited.
  • Term loan facility granted by Investec Bank Limited in an amount of USD 60 million for the acquisition by Acia Aero Limited of a fleet or aircraft.
  • Term loan funding by Erste Group Bank AG in an amount of USD 30 million for the acquisition by a special purpose vehicle of 2 Bombardier CRJ 700 aircraft.
  • Term loan funding by Erste Group bank AG in an amount of USD 13.4 million for the acquisition by a special purpose vehicle of 3 Boeing 737-400 Aircraft.

Asset and leverage finance

  • USD 650 million term funding by China Development Bank Corporation of the development of the mine operated by Bakubung Investments Proprietary Limited.
  • Acquisition by ASL Aviation Group Limited of Aergo Capital limited’s entire ordinary share capital in Aergo SA One Limited. The consideration in question was an amount of USD 81.5 million.
  • Term loan facility by the Hong Kong and Shanghai Banking Corporation of USD 53 million in relation to funding the development of the Taj Palace Hotel, Cape Town.
  • Term loan funding of c. ZAR 742 million by Investec Bank Limited in respect of the acquisition of the property of Enviroserv Site, Holfontein (Proprietary) Limited.
  • Term loan funding of ZAR 730 million by Investec Bank Limited in respect of the acquisition of shares in Enviroserv Holdings Limited.

Other financing transactions

  • Term funding of ZAR 18 billion to Steinhoff Africa Retail Limited and its subsidiaries for purposes of, inter alia, funding the repayment of existing inter-group and shareholder loan claims of Steinhoff International.
  • Term funding of ZAR 16 billion Community Investment Venture Holdings (CIVH) for the purposes of consolidating CIVH’s debt under one structure and creating capacity for CIVH’s expansion of its fibre network in South Africa.
  • Term funding of USD 3.2 billion to Dangote Industries Limited in connection with general corporate purposes.
  • Term loan funding of ZAR 3.5 billion to SA Home loans for the purposes of funding the SA Home Loan securitisation structure.
  • Term loan funding of ZAR 1.75 million to Transnet Limited for general corporate purposes.
  • Term loan funding of ZAR 1.5 billion to Growthpoint Properties Limited for the purposes of refinancing existing facilities and corporate purposes.
  • Term funding of ZAR 10 billion for Woolworths Proprietary Limited in connection with the refinancing of certain facilities and general corporate purposes.
  • Participation via credit linked notes in the senior secured term facility of USD 400 million to Eastern and Southern African Trade and Development Bank.
  • Participation via credit linked notes in the senior secured term facility of USD 270 million to Liquid Telecommunications Holdings Limited.

Awards

Zwide attained the following accolades:

  • Brink Cohen Le Rouw Award in Contract Law.
  • School of Law Award for Advanced Cheque and Banking Law.
  • Membership of the Golden Key Society for Academic Achievement (University of the Witwatersrand).
  • Recognised as a member of the top 100 corporate counsel across Africa by Legal 500 in 2015.