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 24th April 2023.  Abu Dhabi Commercial Bank PJSC, Industrial and Commercial Bank of China Limited, London Branch, Standard Chartered Bank and State Bank of India, Johannesburg acted as Coordinators, Bookrunners and Mandated Lead Arrangers for the Facility.  Standard Chartered Bank acted as Documentation Agent and Commerzbank Aktiengesellschaft. acts as Facility Agent.   The proceeds of the loan are to be used for general corporate purposes.

The Facility was initially launched at US$250,000,000 and achieved a substantial oversubscription of over 1.5x of 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 14 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 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: 

ABU DHABI COMMERCIAL BANK PJSC

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, LONDON BRANCH

STANDARD CHARTERED BANK

STATE BANK OF INDIA, JOHANNESBURG

Mandated Lead Arrangers:

BANK OF BARODA, LONDON BRANCH

BANK OF COMMUNICATIONS CO., LTD. JOHANNESBURG BRANCH 

CHINA CONSTRUCTION BANK CORPORATION, JOHANNESBURG BRANCH

CITIBANK N.A., SOUTH AFRICA BRANCH

COMMERZBANK AKTIENGESELLSCHAFT

HSBC BANK PLC 

J.P. MORGAN SECURITIES PLC 

LLOYDS BANK CORPORATE MARKETS PLC

MASHREQBANK PSC

RAKBANK