4 October 2012
The Standard Bank of South Africa signs US$175m term loan facility
The Standard Bank of South Africa Limited (SBSA) has signed a US$175 million, 364
day syndicated term loan facility in Dubai.
The transaction, which is a debut SBSA transaction in the Middle East, was launched
at US$100-million and was well oversubscribed.
The facility is priced at 130 basis points over Libor.
Twelve participating banks in the transaction are: MashreqBank PSC (Mandated Lead
Arranger and Bookrunner), Al Khalij Commercial Bank (al khaliji) Q.S.C., Arab Banking
Corporation B.S.C., China Construction Bank Corporation, Johannesburg Branch, Doha
Bank Q.S.C., Industrial and Commercial Bank of China Limited, Abu Dhabi Branch,
Samba Financial Group and Union National Bank PJSC ( the Mandated Lead Arrangers),
Bank of China Limited, Johannesburg Branch, The Commercial Bank of Qatar (QSC) and
Raiffeisenlandesbank Oberosterreich Aktiengesellschaft (the Arrangers), Credit Libanais
SAL (the Manager)
MashreqBank PSC, was appointed as Facility Agent
Simon Ridley, Standard Bank Group's Financial Director, says: "We are delighted
to have raised such a sizeable amount. This is a reflection of Standard Bank's standing
in the international financial community. However, due to recent changes in short
term liquidity pools around the globe, we decided not to avail of the full committed
The money will be used for the general corporate purposes by SBSA, including trade-related