An anonymous director reports

HELIOS FAIRFAX PARTNERS CORPORATION CLOSES AMENDMENT TO CREDIT FACILITY

Helios Fairfax Partners Corp. has closed an amendment and restatement of its existing credit facility with FirstRand Bank Ltd. (acting through its Rand Merchant Bank division). The key modifications to the amended credit facility include the following:

• Facility increase: The lenders have increased their commitments on the secured revolving credit facility to $85-million (U.S.), with an option for Helios Fairfax to request an additional increase of $15-million (U.S.).
• Purpose: The secured revolving credit facility is to be used for the purpose of: (a) making investments in accordance with Helios Fairfax's investment objectives and investment restrictions; and (b) for general corporate purposes.
• Updated financial covenants: revised covenants which provide Helios Fairfax with the flexibility to support its investment strategy.
• Term: five years from the closing date of the amended credit facility.

Helios Fairfax is an investment holding company whose investment objective is to achieve long-term capital appreciation while preserving capital by investing in public and private equity securities and debt instruments in Africa and African businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, Africa.