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