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22 September 2008
The Standard Bank of South Africa Limited (SBSA) has secured a US$60 million and €174,5 million, three-year term loan facility from a group of leading international banks.
The facility, finalised at a signing in Munich, Germany today, was arranged by The Standard Bank of South Africa on a stand-alone basis. Eighteen banks participated in the transaction.
The US$60 million and €174,5 million facility is priced at 115 basis points over Libor. The facility may be drawn in US dollars or euros. 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 the facility especially given the current volatility in global financial markets. Standard Bank's ability to raise a three-year term loan facility on this basis, involving the participation of 18 top international banks is a reflection of SBSA's standing in the international banking community."
BayernLB was mandated to co-ordinate the facility. The group of banks include AKA-Ausfuhrkredit-Gesellschaft m.b.H.; Bank of Taiwan South Africa Branch; BayernLB; Commonwealth Bank of Australia; Erste Group; Hypo Alpe-Adria-Bank International AG; Landesbank Baden-Wurttemberg, London Branch; Landesbank Saar); Raiffeisen Banking Group Austria: Raiffeisen Zentralbank Osterreich Aktiengesellschaft, Raiffeisenlandesbank Niederosterreich-Wien AG and Raiffeisenlandesbank Oberosterreich Aktiengesellschaft; Standard Bank Plc; Sumitomo Mitsui Banking Corporation; The Bank of Tokyo-Mitsubishi UFJ, Ltd; WestLB AG, London Branch; WGZ-Bank AG Westdeutsche Genossenschafts-Zentralbank and Zurcher Kantonalbank.
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