31 May 2011
Standard Bank South Africa signs US$285-million term loan facility
Standard Bank South Africa, a member of Standard Bank Group, has signed a USD285-million 3-year term syndicated loan facility in Frankfurt,
Germany. The transaction was launched at USD250-million and was oversubscribed by USD35-million, allowing for a final loan facility of USD285-million.
The facility is priced at 1.60 basis points above Libor.
Simon Ridley, Standard Bank Group's Financial Director, says: "We are delighted with the raising of this volume of international funding.
The ability of Standard Bank to raise 3-year term funding involving the participation of 9 international banks is a reflection of the
excellentstanding that Standard Bank has in the international banking community."
The money will be used for general corporate purposes by The Standard Bank of South Africa Limited.
The nine participating banks in the transaction are: Commerzbank Aktiengesellschaft, HSBC Bank plc, ING Bank N.V. and Mizuho Corporate Bank Ltd,
(Mandated Lead Arrangers), The Bank of Tokyo-MitsubishiUFJ, Ltd, Erste Group Bank AG, JPMorgan Chase Bank N.A., London Branch and Raiffeisenlandesbank
Oberosterreich Aktiengesellschaft (Lead Arrangers) andCredit Suisse (Arranger).
HSBC Bank Plc was mandated to coordinate the facility. Commerzbank Aktiengesellschaft, Filiale Luxemburg Branch, was appointed as agent bank.