Summit Hotels - Delphos is serving as financial advisor to Summit Hotels Limited (“Summit”) on the construction of a 300-room, first-class business hotel in the International Zone of Baghdad, Iraq. Construction is well under way and the hotel is expected to open in early 2013. Delphos assisted Summit in obtaining a $50 million long-term senior loan from the Overseas Private Investment Corporation (“OPIC”) to finance 50% of total projects costs, including EPC, furniture, fixture and equipment costs, and financing costs, among others. The loan will have a grace period of 30 months with a door-to-door tenor of 15 years. Financial closing was achieved in September 2010, and Delphos recently assisted Summit in obtaining a follow-on disbursement in March 2011. In addition, Delphos assisted Summit’s U.S. and Iraqi owners in obtaining political risk insurance through a reinsurance agreement between OPIC and an Iraqi insurance company.
Wananchi Group - As financial consultant, Delphos assisted Wananchi Group (Holdings) Ltd. in closing $57.5m of new funding in 2011 to support additional network expansion of the Company’s triple-play and satellite TV services in East Africa. Under its “Zuku” brand, Wananchi Group is developing the Africa’s first triple-play network and provides fast and competitively priced broadband internet, TV and fixed line telephone. New investors included, among others, Liberty Global, Sarona Asset Management and Oppenheimer Funds.
Export-Import Bank of the United
States, Trade Financing Seminars
Multiple dates throughout the year.