Port-Louis, 2 November 2018 – The Eastern and Southern African Trade and Development Bank is pleased to announce the successful signing of a US$ 460 million Syndicated Term Loan Facility on October 2nd 2018.
Citibank (“Citi”), Commerzbank Aktiengesellschaft, Filiale Luxemburg (“Commerzbank”), Emirates NBD Capital Limited (“EMCAP”), First Abu Dhabi Bank PJSC (“FAB”), Industrial and Commercial Bank of China Limited, London Branch (“ICBC”), Mashreqbank psc (“Mashreq”), Mizuho Bank, Ltd. (“Mizuho”), Standard Chartered Bank (“Standard Chartered”), Sumitomo Mitsui Banking Corporation (“SMBC”) and MUFG Bank, Ltd. (“MUFG”) acted as Bookrunners and Initial Mandated Lead Arrangers. Standard Chartered acted as Documentation Agent and Citi acted as Facility Agent.
The proceeds of the Facility will be used for the refinancing of TDB’s US$ 400 million Syndicated Term Loan Facility dated 5th October 2016, and for its trade financing and general corporate purposes. The Facility amount of US$ 460 million is split across dual tranches, comprising of a US$ 200 million 2-year bullet term loan (“Tranche A”) and US$ 260 million 3-year bullet term loan (“Tranche B”) priced at a margin of 1.20% p.a. and 1.40% p.a. respectively.
TDB President and Chief Executive, Mr. Admassu Tadesse said that “TDB is delighted with this fruitful and efficient transaction with a diverse group of international banks, who have been reliable commercial funding partners for several years.”
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About TDB
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based development financial institution, with assets of over US$ 5 billion. By providing different types of financing, TDB fosters trade, regional economic integration and sustainable development, prioritizing projects with cross-border impact.
For more information, please visit: www.tdbgroup.org
Syndicate Banks
Bookrunners and Initial Mandated Lead Arrangers
- Citibank
- Commerzbank Aktiengesellschaft, Filiale Luxemburg
- Emirates NBD Capital Limited
- First Abu Dhabi Bank PJSC
- Industrial and Commercial Bank of China Limited, London Branch
- Mashreqbank psc
- Mizuho Bank, Ltd.
- MUFG Bank, Ltd.
- Standard Chartered Bank
- Sumitomo Mitsui Banking Corporation
Mandated Lead Arranger
- Bank of China Limited Johannesburg Branch
- China Development Bank Hong Kong Branch
Lead Arranger
- Banque Du Caire S.A.E.
- Union National Bank PJSC
Arranger
- Bank of Taiwan London Branch
- Federated Investors
- First Commercial Bank, Limited
- The Gunma Bank, Ltd.
Media Contacts
TDB
Anne-Marie Iskandar, Senior Communications Officer
Investor Relations and Corporate Affairs
Anne-Marie.Iskandar@tdbgroup.org
Standard Chartered Bank
Ben Constable
+44 20 7885 7598
