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
LENDERS
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