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 | Standard Bank Namibia gets USD50 million term-loan facility |  |  |
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6 December 2006
(Windhoek)
Standard Bank Namibia has signed a USD50 million three-year term facility on a club loan basis. This transaction is a first for Standard Bank Namibia in the international syndicated loan market.
Each arranger joined the facility with a USD5 million ticket:
- The Bank of Tokyo-Mitsubishi UFJ, Ltd
- BayernLB
- China Construction Bank Corporation, Johannesburg branch
- ING Belgium NV
- Mizuho Corporate Bank Ltd
- Natixis, London branch
- The Standard Bank of South Africa Limited, Isle of Man branch
- Standard Chartered Bank
- Sumitomo Mitsui Banking Corporation Europe Ltd
- WestLB AG, London branch (the mandated lead arranger).
The terms and conditions of the facility on a club loan basis on equal shares are as follows:
| Borrower: |
Standard Bank Namibia Limited |
| Type of Facility: |
Term Loan Facility |
| Facility Amount: |
USD50 000 000 |
| Final Maturity: |
Three years from the date of signing of the facility agreement |
| Repayment: |
Bullet at maturity |
| Purpose: |
General financing purposes. |
| Margin: |
35bppa |
The facility is for the bank's general corporate use.
Standard Bank Namibia, a wholly owned subsidiary of Standard Bank Group Ltd, is the largest commercial bank in Namibia. As at 31 December 2005 its total assets were N$9 billion (USD1.4 billion).
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