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 transaction.
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.
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