RMB supports Multichoice with syndicated term loan facility

MEDIA RELEASE

14 JUNE 2023

RMB secures long-term funding deal with MultiChoice Group

RMB is proud to support MultiChoice Group (MultiChoice) on its journey to become Africa’s leading entertainment and consumer services ecosystem by acting as transaction coordinator and facility agent on its R12 billion syndicated term loan facility.

This is the first transaction of its kind between the two parties, and as testament to its commitment to a long-term partnership with MultiChoice, RMB was the single largest lender on the transaction.

This funding facility is earmarked to provide MultiChoice with the necessary financial flexibility and working capital funding to continue growing its core linear video entertainment business while developing and scaling its new strategic verticals.

Key among these will be MultiChoice’s newly incorporated Showmax Africa Holdings Limited, a joint venture with Comcast’s NBCUniversal and Sky to create the leading video streaming service in Africa. Through this partnership, MultiChoice will combine its established Showmax brand, deep library of local content, licensed rights like the English Premier League, as well as its unique localised expertise and capabilities, with an extensive and award-winning portfolio of international content from NBCUniversal and Sky, and Peacock’s world-class streaming technology.

“MultiChoice Group is an important player in the video entertainment industry in Africa and will undoubtedly become an essential provider of other related technology-driven consumer services in future. RMB is proud to play a role in supporting MultiChoice’s growth ambitions through this funding facility - one of our most significant to date in the African telecommunication, media, and technology sector,” says Londa Sithole, Transactor: Debt & Trade Solutions at RMB.

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