Primewaterview Receives the First Drawdown from the $2-billion Milost Equity Subscription Agreement
- Created: Thursday, 14 December 2017 20:47
- Written by Nasdaq GlobeNewswire
VICTORIA ISLAND, Nigeria, Dec. 13, 2017 (GLOBE NEWSWIRE) -- Primewaterview Limited (www.primewaterviewng.com), a Nigerian based Real Estate development & holding company, announced today that the Company has received a portion of the first drawdown of $1.2 million from the $2-billion financing facility previously committed by Milost Global Inc., a U.S. private equity firm, and expects to receive additional funds from Milost Global Inc. The transaction was advised by Palewater Advisory Group Inc.
The Company intends to use the proceeds of the first drawdown to fund for short-term working capital and pay transaction related expenses.
Prince Adetunji Ogunwusi, Chairman and CEO of Primewater, stated: “The desire to make a difference and seeing where it actually happens lead us at Primewaterview to ponder and seek for Milost Global. They gave us lots of inspiration and ideas into building for today and what it will be in the future. The inspiration of Milost Global is indeed genuine.”
Solly Asibey, Senior Partner & President of Milost Global Africa, said, “Working hand in glove with Primewaterview and its executives contributed positively towards expediating the process to achieving financial close within record time. This is the first of many drawdowns that we will be honouring for Primewaterview, and we are looking forward to playing our part in the success of Primewaterview moving forward.”
About Primewaterview Limited
Primewaterview Limited is a wholly owned Nigerian Company incorporated in 2005 and a subsidiary of Primewaterview Holdings Limited. The Company is a property and infrastructure development company, which uses its local knowledge and skills combined with its global expertise, to design and build residential communities of high international standard. Its passion to provide excellent housing shelter has driven it to the pinnacle of Real Estate in Nigeria and Africa. Its track record includes the development of various residential and /commercial properties in highbrow areas in Lagos and other parts of Nigeria.
In line with its goal to be one of the top Real Estate and infrastructure Company in Africa, the Company is planning to construct hotels, office complexes, shopping malls and business parks in Lagos, Abuja, Africa and other parts of the world.
Our Board of Directors, together with the Management team is a strong, balanced blend of Industry & Professional leaders whose exceptional knowledge and experience guides and supports the delivery of long-term value to the Company.About Milost Global Inc
Milost Global Inc is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is at the intersection of creative investing and value creation. 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. www.milostglobal.com
About Palewater Advisory Group Inc.
Palewater Advisory Group is a multinational corporate and public affairs advisory firm with headquarters in New York. We specialise in cross-border and M&A transactions, financing, public affairs, political campaign capital raising and strategy. Collectively as the team, we have had an excellent track record with more than 1000 references in our line of advisory work. We have a robust and yet solid network of contacts with specific focus on certain core industries, investment and banking communities. Our directors, leaders, professionals, and senior advisors collectively provide access to senior industrial, political, economic, government and financial decision makers throughout the world.
We provide individual and personal advice and react swiftly to our clients’ needs, while always providing direct access to the team, including the partners involved. As a professional services firm, we provide the best possible advice based on confidentiality and total discretion. We are committed to the principles of integrity and client service, and operate free from any conflict of interest.