The Standard Bank of South Africa (SBSA) signed a debut US$139.3 million, three-year syndicated Ninja loan facility in Tokyo today. Ninja loans are loans for non-Japanese companies that are syndicated in Japan.
The transaction, which is a first for Africa, was launched on 9 July 2015 and closed on 27 August 2015. The facility is priced at 100 basis points over Libor.
Five financial institutions are participating in the transaction. Mizuho Bank, Ltd, is the Sole Co-ordinator, Sole Bookrunner and Mandated Lead Arranger, Documentation Agent, Signing Agent, Publicity Agent and Facility Agent.
State Bank of India, Tokyo Branch is a Mandated Lead Arranger and Fuyo General Lease (HK) Limited; The Gunma Bank Ltd and The San-in Godo Bank Ltd are Participants in the loan.
The Ninja styled term loan was extended only to Japan based investors and to foreign investors with offices registered in Japan. Dr Arno Daehnke, Head: Treasury and Capital Management, Standard Bank Group said that having been invited by Mizuho Bank in late December 2014 to consider raising funds through the Japanese Ninja market, the successful conclusion of this transaction was very satisfying. "This is the first Ninja loan to be arranged for a borrower on the African continent."
Dr Daehnke expressed his appreciation for the amount raised through the five financial institutions who are participating in the transaction. The funding raised would be used general corporate purposes including, but not limited to, trade-related finance.
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