- Created: Tuesday, 19 September 2017 09:17
- Written by Nasdaq Globe NewsWire
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NEW YORK, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Milost Global Inc. announced today that it has partnered with Monnaie Africa Ltd (“Monnaie”), a Mauritius based Investment holding firm to launch Isilo Fund 1, a new and agnostic Private Equity Fund which will be focused on leveraged buyouts and restructuring of Microcap companies in Africa. Within the month of September, 2017, Milost and Monnaie will form Isilo, a Mauritius GP which will act as the fund manager to Isilo Fund 1. Milost Global Inc. GPs will own 70% interest in Isilo whereas Monnaie will hold 30%. The closed ended Africa Fund will seek to raise a total of $1 billion within the next 9 months and will have a life of 10 years. Isilo will be domiciled in Mauritius, which is increasingly positioning itself as one of the preferred gateways to Africa for global Institutional investors. The GP firm will further house its investment team in Johannesburg, at the Milost Africa headquarters.
- Created: Thursday, 14 September 2017 19:25
- Written by Milost Global Inc
- Hits: 391
NEW YORK, Sept. 14, 2017 (GLOBE NEWSWIRE) -- Milost Global Inc. announces the appointment of Dr Chin Yew Seah as Head of Milost Asia. Based in Hong Kong and effective from 1 October 2017, Dr. Seah will be reporting to Bernard Yaw, Global Head of Operations. He will be responsible for the continued development of Milost in the Asia Pacific region including Hong Kong, China PRC, Korea, Japan, Malaysia, Indonesia, Thailand, Korea, Indo China countries, Australia, New Zealand, amongst others. He will also be a member of Milost’s Executive Committee and Senior Partner. He will be working from Milost's Asia Headquarters, Two International Financial Centre, 8 Finance Street, Central, Hong Kong.
Tec CTL Receives a Good Faith Draw Down Under a Working Capital Facility, After Executing a Binding Commitment Letter With Milost Global
- Created: Monday, 12 June 2017 20:00
- Written by Nasdaq GlobeNewswire
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NEW YORK, June 12, 2017 (GLOBE NEWSWIRE) -- Tec CTL, Inc., a New York-based integrated oil & gas Company announced today that it HAS signed a binding commitment letter with Milost Global, Inc. for the $3 billion working capital facility and both the Company and the investor will be working on the closing documents. The Company also goes on to announce that is has completed a good faith draw down under its previously announced $3 billion working capital facility (“MESA”) in the principal amount of $10 million, the proceeds of which have already been received by the Company in its banking account on June 12, 2017. Milost Global, Inc. under the facility (MESA) will receive senior secured exchangeable notes of the Company (”the Notes”) at a premium price of 200%, bearing an annual interest rate of 5% and repayable quarterly. The financing was arranged, negotiated and secured on our behalf by Palewater Advisory Group and we are excited to be working with them in the future.
- Created: Friday, 09 June 2017 19:55
- Written by GlobeNewswire
- Hits: 198
NEW YORK, June 09, 2017 (GLOBE NEWSWIRE) -- Tec CTL, Inc., a New York-based integrated oil & gas Company, announced today that it has signed a financing term sheet of up to $3 billion with Milost Global, Inc., an American Private Equity firm. This is a working capital facility for the company which is being provided as a combo of Debt and Equity, of which $2 billion will be an equity facility and $1 billion will be debt facility. Both the company and the investor are expected to sign a commitment letter as the transaction heads to closing.
Last week we announced the receiving of a commitment letter to off-take a total of 20,000 bpd from the government of Botswana through its subsidiary company Botswana Oil Limited. Tec CTL is currently negotiating other off-take agreements with other potential off-take partners that will see a total of 80,000 bpd being purchased from our 4 Botswana plants by 2019 and that will translate to a total of at least $1.4 billion in annual revenues.
Ogaisitse Khama, Vice-Executive Chairman of Tec CTL, commented: “After receiving a commitment from Botswana Oil Limited last week, it is becoming rather evident that we are making headway towards becoming the first integrated Oil & Gas Company to develop a CTL project that will produce Synfuels in Botswana. This financing becomes a cornerstone to a build-up to our IPO that will help us trade on the New York Stock Exchange.”