Standard Bank of South Africa Secures US$1,375m Term Loan Facility
The Standard Bank of South Africa (SBSA) has secured a US$1,375m term loan facility from a group of 22 international banks. The five-year facility was priced at a margin of 25 basis points above Libor and is the largest club styled term loan concluded for Standard Bank. The funds will be used to support infrastructural development programmes in South Africa, an increase in corporate credit demand and continued growth in the retail market. The mandated lead arrangers are Bank of America, Bank of China, Bayern LB, BNP Paribas, China Construction Bank, Citigroup, Commerzbank, Deutsche Bank, Dresdner Bank, Erste Bank Der Oesterreichischen Sparkassen, HSBC, ING Belgium, Intesa Sanpaolo, JP Morgan Chase Bank National Association, KBC Bank, Raiffeisen Zentralbank Osterreich, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi, The Royal Bank of Scotland, and Zurcher Kantonalbank.