07 Jul 2022
$450 million sustainability linked term loan facility
We are pleased to announce the successful closing of a US$450,000,000 Sustainability Linked Term Loan Facility (the “Facility”) for Investec Bank plc (“Investec Bank plc” or the “Borrower”) on 29th June 2022. Bank of America, Citibank, N.A., London Branch, Industrial and Commercial Bank of China Limited, London Branch, Mizuho Bank, Ltd. and Standard Chartered Bank acted as Coordinators, Bookrunners and Mandated Lead Arrangers for the Facility. Bank of America acted as Documentation Agent and Mizuho Bank, Ltd. acts as Facility Agent. Bank of America and Mizuho Bank, Ltd. are joint Sustainability Coordinators.
The proceeds of the loan are to be used for general corporate purposes, including the partial refinancing of the Borrower’s US$600,000,000 syndicated term loan facility signed on 6th July 2021 and is the second sustainability linked syndicated loan signed by Investec Bank Plc and the fourth for the Investec Group.
The Facility was initially launched at USD 300mn and, following successful syndication, was upsized to USD 450mn due to strong demand and oversubscription demonstrating the strength of support from the market for the Borrower. Alongside the upsizing of the Facility the participating lenders were scaled back. A total of 23 banks committed to the transaction from across North America, Europe, the Middle East and Asia. The success of the Facility highlights the international syndicated loan market’s continued support for Investec despite recent market uncertainty.
Details of the facility are as follows:
Borrower: Investec Bank plc
Facility Amount: US$450,000,000
Purpose: General corporate purposes and refinancing
Tenor: 2 years + 1 year extension at Borrower’s option
Coordinators, Bookrunners and Mandated Lead Arrangers:
Bank of America
Citibank, N.A., London Branch
Industrial and Commercial Bank of China Limited, London Branch
Mizuho Bank, Ltd.
Standard Chartered Bank
Mandated Lead Arrangers:
Bank of Baroda, London Branch
State Bank of India, London Branch
Abu Dhabi Commercial Bank PJSC
Bank of China Limited, London Branch
BNP Paribas, London Branch
China Construction Bank (Asia) Corporation Limited
ING Bank N.V.
J.P. Morgan Securities plc
Lloyds Bank Corporate Markets
Banco Santander, S.A., London Branch
SMBC Bank International Plc
Wells Fargo Bank, N.A., London Branch
The Korean Development Bank, London Branch
AfrAsia Bank Limited
CTBC Bank Co., Ltd
Erste Group Bank AG
Landesbank Baden-Württemberg, London Branch
Investec partners with private, institutional, and corporate clients, offering international banking, investments, and wealth management services in two principal markets, South Africa, and the UK, as well as certain other countries. The Group was established in 1974 and currently has 8,300+ employees. Investec has a dual listed company structure with primary listings on the London and Johannesburg Stock Exchanges.
For any further enquiries, please contact the following:
Name: Darryn Solomon
Global Head of Financial Institutions Group Investec Bank
T: +27 11 286 9204
M :+27 82 558 0759
Name: Tangwena Nelson
Financial Institutions Investec PLC
T: +44 20 7597 5497
M: +44 7835 149624
Name: Charlotte Howell
Global Loan Syndications Industrial and Commercial Bank of China Limited, London Branch
T: +44 20 7398 9541
M: +44 7855 275619