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South Africa : The Standard Bank of South Africa Limited signs US$160m term loan facility.

The Standard Bank of South Africa Limited has signed a US$160-million, 364 day syndicated term loan facility in Taipei. The transaction was launched at US$100-million and an oversubscription of US$60-million was obtained, thus allowing for a final take of US$160-million.

The facility is priced at 150 basis points over Libor.

Nine participating banks in the transaction are: Bank of Taiwan, South Africa Branch and China Construction Bank Corporation, Johannesburg Branch (the coordinating mandated lead arrangers), Credit Suisse AG, Industrial and Commercial Bank of China (Asia) Ltd, Mega International Commercial Bank Co Ltd, Offshore Banking Branch and Oberbank AG, (the arrangers), Cathay United Bank, Taipei, Hua Nan Commercial Bank Ltd, Offshore Banking Branch and Taipei Fubon Commercial Bank Co., Ltd. (the lead managers)

Bank of Taiwan, South Africa Branch was appointed as the facility agent.

Simon Ridley, Standard Bank Group Financial Director, says: "We are delighted to have raised such a sizeable amount for the tenor indicated. This is a reflection of Standard Bank Group'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.

2012 Al Bawaba (Albawaba.com)

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Publication:Mena Report
Geographic Code:6SOUT
Date:Sep 5, 2012
Words:208
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