The Standard Bank of South Africa Limited (SBSA) today announced the successful securing of a USD275 million loan facility from a consortium of Taiwanese and International Banks. Speaking from Taipei, Craig Bond, Chief Executive of Standard Bank China said, "This three-year term loan facility is to be used for general corporate purposes by SBSA with a primary focus, but not limited to, trade related financing."
Bond further added, "The wide range of support provided by the participating banks is encouraging as it shows that Standard Bank Group's strategy of linking Asia to Africa is a positive one. The loan was oversubscribed by USD125 million despite the broader challenges being felt in the global economy."
The three-year term loan facility provided by the 18 leading Taiwanese and international banks was signed on 9 December, 2011, by both Bond and Mr McKinney Tsai, Chairman of Mega International Commercial Bank, who acted as Co-ordinating Mandated Lead Arranger & Bookrunner.
Mega International Commercial Bank Co., Ltd. Offshore Banking Branch, HSBC Bank (Taiwan) Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citibank, N.A., London Branch, Mizuho corporate Bank, Ltd. and Standard Chartered Bank acted as Mandated Lead Arrangers on the transaction.
Bank of America, N.A., the Bank of New York Mellon, Chinatrust Commercial Bank CO., Ltd., The Export-Import Bank of the Republic of China, JPMorgan Chase Bank N.A., London Branch, Taichung Commercial Bank BanChiao Branch and Taiwan Business Bank, Offshore Banking Branch acted as Arrangers.
Standard Bank Plc (a member of Standard Bank Group Limited), Chang Hwa Commercial Bank, Ltd., Offshore Banking Branch, Land Bank of Taiwan, Offshore Banking Branch, Nordea Bank AB (publ) and Sunny Bank Ltd. acted as Lead Managers.
Bond concluded by saying, "Standard Bank Group played a central role in the development of the Southern African economy for almost 150 years. It is South Africa's largest bank with 25.9% asset-market-share among South Africa's banks.
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