22 May 2012
The Standard Bank of South Africa signs US$1.35bn term loan facility
The Standard Bank of South Africa Limited has signed a US$1.35-billion, 36-month
term loan facility in London. The transaction was launched in an amount of US$750-million
and an oversubscription of US$726-million was obtained.
The facility is priced at 200 basis points over Libor.
Thirty-one international banks, ranging from centres in the United States of America,
the United Kingdom, Europe, the Middle East and the Far East, participated in the
Simon Ridley, Standard Bank's Chief Financial Officer says: "This is a significant
transaction for Standard Bank and the strong take-up is a reflection of Standard
Bank's standing in the international financial community."
The money will be used for the general corporate purposes by The Standard Bank of
South Africa Limited, including trade-related finance.