We are pleased to announce the successful closing of a US$600,000,000 Syndicated Term Loan Facility (the “Facility”) for Investec Bank Limited (“Investec”) on 19th March 2021. Bank of America, Industrial and Commercial Bank of China Limited, London Branch, Intesa Sanpaolo S.p.A., SMBC Bank International plc, Standard Chartered Bank and State Bank of India acted as Coordinators, Bookrunners and Mandated Lead Arrangers for the Facility. Bank of America acted as Documentation Agent and Bayerische Landesbank acted as Facility Agent.
The Facility was initially launched at US$400,000,000 and achieved a significant oversubscription of almost 2.5x of 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 29 banks committed to the transaction from across North America, Europe, the Middle East, Asia and Africa. The success of the deal highlights the international syndicated loan market’s continued support for Investec, especially during these continuing challenging times.
Details of the facility are as follows:
Borrower: Investec Bank Limited
Facility Amount: US$600,000,000
Purpose: General corporate purposes and Refinancing
Tenors: Tranche A: 1 year + 1 year extension at Borrower’s option
Tranche B: 2 years + 1 year extension at Borrower’s option
Coordinators, Bookrunners and Mandated Lead Arrangers:
Bank of America
Industrial and Commercial Bank of China Limited, London Branch
Intesa Sanpaolo Bank
SMBC Bank International plc
Standard Chartered Bank
State Bank of India
Mandated Lead Arrangers:
Bank of Baroda
Bank of China
Banco BAI Europa S.A.
BNP Paribas S.A.
China Construction Bank Corporation, Johannesburg Branch
Citibank N.A., London Branch
JP Morgan Securities plc
Lloyds Bank Corporate Markets plc
The National Bank of Ras Al Khaimah (P.S.C.)
Abu Dhabi Commercial Bank PJSC
Credit Europe Bank N.V.
Erste Group Bank AG
First Abu Dhabi Bank PJSC
HSBC Bank plc – Johannesburg Branch
Union Bank of India, Hong Kong Branch
Bank of Taiwan, South Africa Branch
AfrAsia Bank Limited
MUFG Bank, Ltd.
The Export-Import Bank of the Republic of China
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
KEB Hana Bank, London Branch
For any further enquiries, please contact:
Darryn Solomon, Global Head of Financial Institutions Group at Investec Bank Limited
+27 82 558 0759