Corporate News
Pedestrians walk past a CFC Stanbic Bank branch in Nairobi. PHOTO | FILE
By REUTERS
In Summary
- The loan was originally targeting Sh10.3 billion ($100 million) but was increased because of interest from banks wanting to back the deal.
Listed lender CFC Stanbic
has signed a Sh16 billion ($155 million), dual tranche loan which will
fund the bank's general business activities, Reuters reported on
Wednesday.
Dubai's Emirates NBD acted as the sole book runner for the
financing and was joined by Abu Dhabi Commercial Bank, Al Ahli Bank,
Commercial Bank of Qatar, Mizuho Bank, and Standard Chartered as
mandated lead arrangers, it said in a press release.
The loan was originally targeting Sh10.3 billion
($100 million) but was increased because of interest from banks wanting
to back the deal, the statement said.
PARTICIPANTS
The final list of participants includes AfrAsia
Bank, Al Khaliji France, Commerzbank Aktiengesellschaft, Filiale
Luxemburg and Doha Bank.
The tenure and margin on the loan were not disclosed.
CFC Stanbic Bank is a unit of South Africa's Standard Bank , the statement added.
In January, Stanbic Bank Uganda raised $85 million, 18-month loan tapping many Middle East investors.
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