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4 November 2009
Bank signs new currency loan deals
The Standard Bank of South Africa Limited has signed a US55 million and EUR70 million dual currency 364-day term-loan facility.
Nine leading international banks from six countries participated in the transaction, which was signed in Konigstein, Germany on Friday, 30 October 2009.
The banks are BNP PARIBAS, Commerzbank Aktiengesellschaft, ING Bank NA, Lloyds TSB Corporate Markets, Standard Chartered Bank and The Hongkong and Shanghai Banking Corporation Limited (the mandated lead arrangers) and AKA Ausfuhrkredit-Gesellschaft mbH, BNY Mellon and Raiffeisenlandesbank Oberosterreich Aktiengesellschaft (the arrangers).
Commerzbank AG, Frankfurt was mandated to co-ordinate the facility with the agent being Commerzbank International SA, Luxembourg.
Says Casper Troskie, Standard Bank Chief Financial Officer: "We are delighted with the raising of the facility in such tough global loan and capital markets."
The money will be used for general corporate purposes by The Standard Bank of South Africa Limited, including, but not limited to trade-related finance.
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