13 Jul 2023

Investec Bank Plc US$450 Million Term Loan Facility

We are pleased to announce the successful closing of a US$450,000,000 Term Loan Facility (the “Facility”) for Investec Bank Plc (“Investec” or the “Borrower”) on 3rd July 2023.

 

Lloyds Bank Corporate Markets plc, SMBC Bank International plc, Standard Chartered Bank, Wells Fargo Bank, N.A., London Branch acted as Coordinators, Bookrunners and Mandated Lead Arrangers for the Facility. Commerzbank Aktiengesellschaft acts as Facility Agent. The proceeds of the loan are to be used for general corporate purposes and refinancing of Tranche B of 6th July 2021 facilities agreement.

The Facility was initially launched at US$300,000,000 and achieved a substantial oversubscription of >2x the launch amount. Commitments were scaled back and the significant market demand further allowed the deal to be increased, closing at US$450,000,000. A total of 22 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 despite the ongoing macroeconomic volatility. 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 Plc
Facility Amount: US$450,000,000
Purpose: General corporate purposes & to refinance Tranche B of 6th July 2021 facilities agreement
Tenor: 2 years + 1 year extension at Borrower’s option

Lenders

Coordinators, Bookrunners and Mandated Lead Arrangers:

Wells Fargo Bank, N.A., London Branch
Lloyds Bank Corporate Markets plc
SMBC Bank International plc
Standard Chartered Bank (Hong Kong) Limited

Mandated Lead Arrangers:

State Bank of India, London Branch
China Construction Bank (Asia) Corporation Limited
Mizuho Bank, Ltd
Abu Dhabi Commercial Bank PJSC
Bank of China Limited London branch
Landesbank Baden-Württemberg (Stuttgart)
Banco Santander, S.A., London Branch
Bank of America Europe Designated Activity Company
Citibank, N.A. London Branch
Commerzbank Aktiengesellschaft
Industrial and Commercial Bank of China Limited, London Branch.
ING Bank N.V.
BNP Paribas, London Branch
HSBC Bank plc

Lead Arrangers & Arrangers:

The Korea Development Bank, London Branch
JPMorgan Chase Bank, N.A., London Branch
CTBC Bank Co., Ltd.
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main