Izak Lessing
Director
Norton Rose Fulbright South Africa Inc
Related services and key industries
Biography
Izak is a Banking and Finance lawyer based in Cape Town. He specialises in general banking and finance, mezzanine finance, commercial property finance, trade finance, preference shares funding, corporate and corporate finance transactions and also has experience in projects and construction and also has experience in projects and construction. Izak is dual qualified to practice as an attorney in South Africa, and a solicitor in England and Wales (Practising) since 2009.
Izak commenced his articles with a local law firm in 1998. He joined an Amsterdam based firm in 2001 before relocating to Dubai in 2005 and joining a firm as associate. He also held a number of senior legal positions at another Dubai property developer, and ultimately became the Head of Legal (Commercial). He returned to South Africa in 2011.
Professional experience
Collapse all- BComm LLB (Cum Laude), University of Stellenbosch.
- Attorney, qualified in South Africa 2000
- Admitted as a solicitor in English and Wales 2009
- Advised an institutional impact investment manager and acting as South African and English law counsel advising a credit fund (as Agent and Original Lender) (based in Luxembourg) in the provision of a secured borrowing base facility of up to USD75 million to Inclusion South Africa for purposes of financing the purchase by Inclusion South Africa of motor vehicles to be on-sold (either outright or through an option to purchase) or rented on a long-term basis.
- Instructed by Kholo Capital Fund Managers Proprietary Limited to represent the Mezzanine Lenders in the formulation, negotiation, and conclusion of the finance documents, the corporate structuring of the transaction and the related conveyancing aspects. The Mezzanine Lenders will provide multiple millions of Rand to be used by a commercial property developing company, as part of a debt package for purposes of refinancing existing debt and the development of two additional properties to be included under an existing portfolio of properties.
- Represented DLO Energy Resources Group, a fully Black female-owned renewable energy company, in the acquisition of 30% equity stake in the broad-based black economic empowerment special purpose vehicle of the Longyuan Mulilo wind projects in the Northern Cape.
- Advised Oikocredit, Ecumenical Development Cooperative Society U.A in relation to the extension of facilities to the total value of US$5 million to various entities in the Yellow Group, including Perennial Holdings Limited (Malawi), Yellow Digital Retailers Limited (Uganda), Yellow Smart Retailers Limited (Zambia) and Yellow Digital Retailers Limited (Rwanda), which was in turn was guaranteed by Yellow Digital Retailers Limited (Mauritius).
- Advised Medi-Clinic Southern Africa (Pty) Ltd and its group companies in connection with the refinance of the existing MCSA group term debt and upsize to ZAR8.4 billion sustainability linked loan facilities;
- Advised Old Mutual Alternative Investments (OMAI) and Education Investment Impact Fund of South Africa (Pty) Ltd (EduFund) in relation to the financing and development of a school in Beacon Bay, East London to be known as St. Joseph's School.
- Advised Futuregrowth Asset Management (Pty) Ltd (FG) in relation to the refinancing and consolidation of various loans provided by FG to the Africrest group of companies in a total principal amount of ZAR830,500,000;
- Advised the Development Bank of Southern Africa (as borrower) on a US$300 million revolving loan facility with the New Development Bank (as lender) for purposes of the Development Bank of Southern Africa utilising funds to (retrospectively) finance various renewable energy projects in Southern Africa. This transaction was governed by English law;
- Advised the Development Bank of Southern Africa on a US$50 million loan facility provided to be Government of Mozambique for part-financing of the Temane Transmission Project in Mozambique. This mandate involved non-concessional unsecured financing to a sovereign state. This transaction was governed by English Law;
- Advised FirstRand Bank Limited (acting through its Rand Merchant Bank division) (as arranger) in respect of a large-scale refinancing and a ZAR1 billion domestic medium term note programme issuance by a South African private company.
- The Legal 500 EMEA 2021 recommended Izak for banking and finance.
- Legal Practice Council (South Africa)
- Law Society of England and Wales