RADP / Pulse Nigeria > News > business

CFC Stanbic raises $135 mln dual tranche loan

folarin okunola

April 4, 2016 5:12 PM

CFC Stanbic Bank is an affiliate of South Africa's Standard Bank.

Businessmen chat in front of a Standard Bank logo in Sandton outside Johannesburg, file. REUTERS/Siphiwe Sibeko

Kenyan bank CFC Stanbic has secured a $135 million dual tranche loan to be used for general corporate purposes including trade finance, it was announced on Monday.

Dubai-based Emirates NBD,the investment banking arm of Emirates NBD, and Mashreq, another Dubai lender, were the initial mandated lead arrangers and bookrunners for the financing, according to a statement from Emirates NBD.

CFC Stanbic Bank is an affiliate of South Africa's Standard Bank.

In October 2015 the bank secured a $155 million dual tranche loan to fund its business activities. Emirates NBD was the sole book runner for that financing.

Al Ahli Bank of Kuwait, AfrAsia Bank, Bank Muscat, Commerzbank Aktiengesellschaft, Filiale Luxemburg, Investec Bank, SBM Bank (Mauritius) and United Arab Bank also joined the latest deal as lead arrangers.

folarin okunola

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!