The deal was priced at an all-in cost of 0.95%p.a., including the margin and a market-related upfront fee. This demonstrates the strong relationships that Investec Australia has built internationally. The proceeds will be utilised for general funding purposes.
The syndicate of mandated lead arrangers includes existing relationships and new lenders, and is comprised of Banco BAI Europa, S.A; BMO – Capital Markets; BayernLB; COMMERZBANK Aktiengesellschaft; Dresdner Kleinwort; HSH Nordbank AG Luxembourg Branch; ING Belgium S.A./N.V.; JP Morgan plc.; Landesbank Baden-Württemberg Singapore Branch; Lloyds TSB Corporate Markets; RAIFFEISEN ZENTRALBANK ÖSTERREICH AKTIENGESELLSCHAFT; Standard Chartered Bank and WGZ Bank AG Westdeutsche Genossenschafts-Zentralbank.
The Documentation Agent was BayernLB who are also Facility Agent on the deal.
Investec Austalia’s chief executive, Mr Brian Schwartz, said the pleasing result reflects positively on Investec Australia’s reputation in the market.
“We have built solid relationships in the funding markets over the years and, in these difficult times, it is pleasing to see we were able to raise this amount of funding,” Mr Schwartz said.
Investec Australia is rated BBB by Fitch Ratings and Baa1 by Moody’s Investors Service.