The Standard Bank of South Africa (SBSA) has secured a US$1,375m term loan facility from a group of 22 international banks. The five-year facility was priced at a margin of 25 basis points above Libor and is the largest club styled term loan concluded for Standard Bank. The funds will be used to support infrastructural development programmes in South Africa, an increase in corporate credit demand and continued growth in the retail market. The mandated lead arrangers are Bank of America, Bank of China, Bayern LB, BNP Paribas, China Construction Bank, Citigroup, Commerzbank, Deutsche Bank, Dresdner Bank, Erste Bank Der Oesterreichischen Sparkassen, HSBC, ING Belgium, Intesa Sanpaolo, JP Morgan Chase Bank National Association, KBC Bank, Raiffeisen Zentralbank Osterreich, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi, The Royal Bank of Scotland, and Zurcher Kantonalbank.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.