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10 December 2009
Standard Bank signs US$130 million loan deal
The Standard Bank of South Africa Limited (SBSA) has signed a US$ 130 million two-year term loan facility in Taipei, Taiwan.
The transaction was launched at US$ 100 million. An oversubscription of US$ 30 million was obtained, thus allowing for a final take of US$ 130 million.
The transaction is a debut SBSA direct borrowing in the Taiwanese market, reflecting the trust that the Taiwanese banks have in Standard Bank.
The 11 leading Taiwanese banks participating in the transaction are:
- Bank of Taiwan, South Africa Branch
- The Export-Import Bank of the Republic of China
- Chinatrust Commercial Bank Co, Ltd, Offshore Banking Branch
- Jih Sun International Bank
- China Development Industrial Bank
- Industrial Bank of Taiwan
- Mega International Commercial Bank Co, Ltd, Offshore Banking Branch
- Taishin International Bank
- Taiwan Business Bank, Offshore Banking Branch
- Sunny Bank Ltd
- Yuanta Commercial Bank Co, Ltd, Taipei.
Bank of Taiwan, South Africa Branch, The Export-Import Bank of the Republic of China and Chinatrust Commercial Bank Co, Ltd, Offshore Banking Branch, were mandated to co-ordinate the facility with the facility agent being Bank of Taiwan, South Africa Branch.
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 SBSA, including, but not limited to, trade-related finance.
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