Standard Bank of South Africa (SBSA) has signed a US$268m three-year term loan facility in Taipei, Taiwan. The transaction was launched at US$200m and an oversubscription of US$68m was obtained, thus allowing for a final take of US$268m.
The 18 participating banks in the transaction are: Bank of Taiwan, South Africa Branch, Bank Sinopac, Offshore Banking Branch, Cathay United Bank, Chinatrust Commercial Bank, Offshore Banking Branch, HSBC Bank (Taiwan), Mega International Commercial Bank, Offshore Banking Branch, Taipei Fubon Commercial Bank, Taishin International Bank, Taiwan Cooperative Bank (co-ordinating mandated lead arrangers), Australia and New Zealand Banking Group, Taipei Branch (mandated lead arranger), Chang Hwa Commercial Bank, Offshore Banking Branch, ESun Commercial Bank, Offshore Banking Branch, Far Eastern International Bank, Land Bank of Taiwan, Hong Kong Branch, Yuanta Commercial Bank (lead managers), Bank of Kaohsiung, Offshore Banking Branch, Bank of Panhsin, and Sunny Bank (managers).
Bank of Taiwan, South Africa Branch, was mandated to co-ordinate the facility and are the appointed agent bank.
Simon Ridley, group financial director, said: “We are delighted to have raised such a sizeable amount for the tenor indicated. This is SBSA’s second successful term fund raising achievement in the Taiwanese market.”
The money will be used for general corporate purposes by SBSA, including, trade-related finance.