 |
|
|
|
|
|
 | Standard Bank Group secures US$500,5 million and ?200 million 364-day syndicated term loan facility |  |  |
 |
|
3 July 2008
The Standard Bank of South Africa Limited and Standard Bank plc have secured US$ 500,5 million and ?200 million (about R6,5 billion in total) dual currency syndicated loan facilities from a group of leading international banks.
The facility, finalised at a recent signing in Darmstadt, Germany was arranged by The Standard Bank of South Africa Limited. Each of the loans are on a stand-alone basis.
The facility is priced at 50 basis points over Euribor/Libor. The facility may be drawn in US dollars or euro. The purpose of the facility is for general financing requirements, including, but not limited to trade related finance.
Simon Ridley, Chief Financial Officer of Standard Bank Group, says: "We are delighted with the raising of this volume of international funding in extremely challenging market conditions. The ability of both our borrowers to raise 364 day funding involving the participation of 25 top international banks, is a reflection of the Group's excellent standing in the international banking community."
Commerzbank AG was mandated to co-ordinate the facility. The group of banks include Bank Austria Creditanstalt AG, Bank of China (Hong Kong) Limited, Bank of Taiwan, BNP Paribas SA, Caixa Geral de Depositos SA, Caja Madrid, China Development Bank, Deutsche Bank AG, DZ Bank AG Deutsche Zentral Genossenschaftsbank, Erste Bank der Oesterreichischen, First Commercial Bank, HSH Nordbank AG, ING Belgium SA/NV, Intesa Sanpaolo SpA, Landesbank Baden-Wuerttemberg, Lloyds TSB Bank Plc, National Bank of Egypt, Oversea-Chinese Banking Corp Ltd, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation Europe Limited, The Bank of New York Mellon, The Export-Import Bank of the Republic of China, WestLB AG and Zurcher Kantonalbank.
|
|
|
|
|
|
|
|
|
|
|
