Standard Bank secures loan

Standard Bank secures loan

Published: September 20, 2014

US$560mn funding from 14 banks will finance trade and infrastructure work.

The Standard Bank of South Africa, the South African business of the Standard Bank Group, has signed a US$560mn term loan from 14 banks to back lending in trade finance as well as infrastructure deals.

The 36-month loan was launched as a US$375mn deal, with an oversubscription of US$185mn. The facility was priced at 100 basis points over Libor.

Banks from the US, UK, Europe, the Middle East and the Far East joined the syndicate:
Mizuho Bank, Abu Dhabi Commercial Bank, Bank of America Merrill Lynch, BayernLB, BNP Paribas, Citi, Commerzbank, First Gulf Bank, HSBC, JP Morgan, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi and Wells Fargo.