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15 December 2003
Standard Bank Asia Limited (SBA), a wholly owned subsidiary of the Standard Bank Group (SBG), has signed a US$125 million Transferable Term Loan Facility with a group of fourteen international and local banks. The size of the facility was increased from the original US$100 million following the strong demand and oversubscription during syndication.
Bank of China (Hong Kong) Limited, Barclays Capital, Cr?dit Lyonnais, Deutsche Bank AG, Mizuho Corporate Bank, Limited / Mizuho Corporate Asia (HK) Limited and Standard Chartered Bank are the Mandated Coordinating Arrangers for the Facility.
The proceeds of the facility will be used for general corporate funding requirements of Standard Bank Asia Limited. The facility has a final maturity of three years and carries an interest rate of LIBOR plus 0.40%.
Standard Bank Chief Executive for Asia, Malcolm Wilde remarked: "We are delighted that this debut transaction has been so successful. We received strong support from an eminent group of lead underwriters and there was a very positive reception to the deal in general syndication."
He said they received underwriting commitments totalling US$200 million, but cut these back and launched the deal at US$100 million. Following a 50% oversubscription, the deal was increased to US$125 million.
SBA is the Asian hub for the international investment banking activities of the Standard Bank Group. SBA has a 30-year history in Hong Kong and a well-established position in the Asian corporate and financial markets. SBA is a fully licensed bank regulated by the Hong Kong Monetary Authority and specialises in serving clients within the Asian emerging markets.
The facility has the backing of the following major local and international financial institutions:
Co-ordinating Arrangers
Bank of China (Hong Kong) Limited
Barclays Capital
Credit Lyonnais
Deutsche Bank AG
Mizuho Corporate Bank, Limited / Mizuho Corporate Asia (HK) Limited
Standard Chartered Bank
Arrangers
DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Hong Kong Branch
The International Commercial Bank of China, Offshore Banking Branch
Co-Arrangers
First Commercial Bank, Hong Kong Branch
ING
Lloyds TSB Bank plc
Senior Managers
Banca Monte dei Paschi di Siena S.p.A., Hong Kong Branch
Hua Nan Commercial Bank, Ltd., Hong Kong Branch
Wing Lung Bank, Limited
For further information, please contact: -
Standard Chartered Bank
Jonathan Lee
Tel: +852 2841-0315
E-mail: Jonathan.TH.Lee @hk.standardchartered.com
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