CRDB Bank

^{_{Our role}}

Investec Bank and Intesa Sanpaolo attracted oversubscribed market support in the third round of funding initiated to refinance a syndicated term loan facility first launched in 2022 to improve capitalisation at Tanzania’s largest bank, CRDB Bank.

With an initial target of $100 million, the latest fundraise received significant interest, resulting in oversubscribed commitments of $247 million (247%), which exceeded totals achieved in the previous two fundraising rounds.

The initial transaction aimed to raise US$50 million, attracting $130 million (260%) while the second deal attracted $207 million (404%).

The final $150 million term loan facility is split between a $45 million two-year tranche and a $105 million one-year tranche.

This latest fundraising round attracted numerous new global funders to the transaction alongside existing lenders. The final deal was facilitated by a strong pool of 17 lenders across Africa, the Middle East, Europe and the United Kingdom.

_{“This year’s larger funding in the two-year tranche compared to last year reflects the growing trust and confidence of global lenders in CRDB Bank. Their continued support highlights our strong credit standing and reinforces our position as a reliable financial partner,” said Abdulmajid Nsekela, CRDB Bank Group CEO.}

_{“Our ability to attract a wide spread of investors in the facility, including new participants, demonstrates a healthy interest in the placement,” added Leanne Large, Head of Loan Distribution and Syndication at Investec Bank.}

The growing appetite among global financial institutions to fund the deal with longer funding tenors affirms market confidence in CRDB as a creditworthy lender and the continued stability and economic growth prospects in the region. CRDB Bank leverages the facility to provide working capital and support the bank's lending portfolio for the corporate, small and medium enterprise (SME) sector in Tanzania and Burundi, including project and infrastructure finance linked to the commodity sector.

_{“The larger facility will boost our existing lending activities to support continued economic growth and prosperity in the region and further strengthen our position as a leading financial institution in Africa,” continues Nsekela.}

_{“Tanzania remains a critical cog in the pan-African economic growth engine, serving as a key export route for commodities produced in East, Southern and Central Africa,” explained Marc Kohne, Head: Africa Leveraged Finance at Investec Bank.}

_{"The renewed funding line also comes at a pivotal moment as the global economy gears up for recovery, where access to innovative funding will be vital for realising this growth,” explains Gustaaf Eerenstein, Syndications Director at Intesa Sanpaolo.}

Find out more in our press release.

^{_{About CRDB Bank Plc}}

CRDB Bank Plc is one of the leading commercial banks in East Africa, serving diverse sectors and clients across Tanzania, Burundi, and the Democratic Republic of Congo.

Rated "B1, stable" by Moody's, CRDB Bank holds one of the strongest ratings for banks in East Africa and over 3 decades, the bank has significantly contributed to economic transformation in its markets. In 2019, CRDB was accredited by the UN Green Climate Fund, and in 2023, it issued a green bond to support environmentally friendly projects.

With over 5 million customers, CRDB Bank operates 250+ branches, 25,000 agents, and 650+ ATMs. Its quest to promote financial inclusion resulted to the establishment of CRDB Insurance and CRDB Bank Foundation in 2023, wholly owned subsidiaries that further contribute to economic growth and complement the banking business.