We are pleased to announce the successful closing of a US$500,000,000 Term Loan Facility (the “Facility”) for Investec Bank Limited (“Investec” or the “Borrower”) on 6th November 2023. Bank of America Europe DAC, Industrial and Commercial Bank of China Limited, London Branch, Mashreqbank PSC, Standard Chartered Bank 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$600,000,000 syndicated term loan facility signed on 18th November 2021.
The Facility was initially launched at US$450,000,000 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$500,000,000. A total of 24 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$500,000,000
Purpose: General corporate purposes
Tenor: 2 years + 1 year extension at Borrower’s option
LENDERS
Coordinators, Bookrunners and Mandated Lead Arrangers:
Industrial and Commercial Bank of China Limited, London Branch
State Bank of India, Johannesburg
Bank of America Europe DAC
Mashreqbank PSC
Standard Chartered Bank
Mandated Lead Arrangers:
Paris Branch, The Export-Import Bank of China
Union Bank of India
China Construction Bank Corporation, Johannesburg Branch
Bank of China Limited, Johannesburg Branch
Bank of China Limited, London Branch
China CITIC Bank Corporation Limited, London Branch
The National Bank of Ras Al Khaimah (P.S.C)
BNP Paribas
Citibank, N.A., Abu Dhabi Global Market Branch
Commerzbank Aktiengesellschaft
HSBC Bank Plc
JPMorgan Chase Bank, N.A., London Branch
Lloyds Bank Corporate Markets Plc
Mizuho Bank, Ltd., London Branch
Lead Arrangers:
Bank of Taiwan, South Africa Branch
Canara Bank (DIFC, Branch)
SMBC Bank International Plc
Wells Fargo Bank, N.A., London Branch
The Export-Import Bank of the Republic of China
Banque Misr, Dubai Branch