12 Jun 2024

Investec Bank Limited US$600 million Term Loan Facility

We are pleased to announce the successful closing of a US$600,000,000 Term Loan Facility (the “Facility”) for Investec Bank Limited (“Investec” or the “Borrower”) on 10th June 2024. Bank of America Europe DAC, Citibank, N.A., London Branch, Industrial and Commercial Bank of China Limited, London Branch, Mizuho Bank, Ltd. and State Bank of India, Johannesburg acted as Coordinators, Bookrunners and Mandated Lead Arrangers for the Facility. Bank of America Europe DAC acted as Documentation Agent and Commerzbank Aktiengesellschaft. acts as Facility Agent. The proceeds of the loan are to be used for general corporate purposes, including the refinancing of the Borrower’s US$450,000,000 syndicated term loan facility signed on 6th July 2022.

The Facility was initially launched at US$300,000,000 and achieved a substantial oversubscription over the launch amount. Commitments were scaled back and the significant market demand further allowed the deal to be increased, closing at US$600,000,000. A total of 26 banks committed to the transaction from across North America, Europe, the Middle East and Asia. The success of the deal highlights the international syndicated loan market’s continued support for Investec. Competitive pricing and a single 2 + 1 year tranche further demonstrates the appeal of the transaction to lenders.

Details of the facility are as follows:

Borrower: Investec Bank Limited

Facility Amount: US$600,000,000

Purpose: General corporate purposes

Tenor: 2 years + 1 year extension at Borrower’s option


Coordinators, Bookrunners and Mandated Lead Arrangers:

Bank of America Europe DAC

Citibank, N.A., ADGM Branch

Industrial and Commercial Bank of China Limited, London Branch

Mizuho Bank, Ltd.

State Bank of India, Johannesburg

Mandated Lead Arrangers:

The National Bank of Ras Al Khaimah (P.S.C)

Union Bank of India

Bank of Baroda, London Branch

China Construction Bank Corporation, Johannesburg Branch

Bank of Communications Co., Ltd. Johannesburg Branch

Bank of India, IFSC Banking Unit, GIFT City.

China CITIC Bank Corporation Limited London Branch

Doha Bank Q.P.S.C.

DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main

Landesbank Baden-Württemberg – LBBW

Paris Branch, The Export-Import Bank of China

SMBC Bank International Plc

Commerzbank Aktiengesellschaft

HSBC Bank Plc – Johannesburg Branch

J.P. Morgan Securities plc

Lloyds Bank Corporate Markets Plc

Lead Arrangers:

Banco BAI Europe, S.A.

Bank of China Limited, Johannesburg Branch

AfrAsia Bank Limited

Bank of Taiwan, South Africa Branch

Bayerische Landesbank