We are pleased to announce the successful closing of a US$350,000,000 Term Loan Facility (the “Facility”) for Investec Bank Limited (“Investec” or the “Borrower”) on 28th March 2025. Bank of America Europe DAC, Citibank, N.A., London Branch and Industrial and Commercial Bank of China Limited, London Branch, 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$350,000,000 syndicated term loan facility signed on 24th April 2023.
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$350,000,000. A total of 18 banks committed to the transaction from across North America, Europe, the Middle East, Africa 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$350,000,000
Purpose: General corporate purposes
Tenor: 2 years + 1 year extension at Borrower’s option
LENDERS
Coordinators, Bookrunners and Mandated Lead Arrangers:
Bank of America
Citibank, N.A., London Branch
Industrial and Commercial Bank of China Limited, London Branch
Mandated Lead Arrangers:
Abu Dhabi Commercial Bank PJSC
Canara Bank (DIFC Branch)
Commerzbank Aktiengesellschaft
Bank of China Limited, Johannesburg Branch
State Bank of India, Johannesburg
Bank of Communications, Johannesburg Branch
China Construction Bank Corporation, Johannesburg Branch
Doha Bank Q.P.S.C.
Lloyds Bank Corporate Markets plc
Mashreqbank PSC
RAKBANK
HSBC
J.P. Morgan Securities plc
Lead Arrangers:
Bank of Baroda, London Branch
AfrAsia Bank Limited