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.
CFC Stanbic raises $135 mln dual tranche loan
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
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.
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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.
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