FirstRand launches second loan, to price tighter than peers
FirstRand Bank has launched its second syndicated loan of the year, two weeks after signing a $540m loan with Asian banks. The new $500m loan is aimed at international banks, and is priced more tightly than other loans for South African banks this year.
The two year facility, which has a one year extension option, will be used to refinance a loan from December 2014. A banker on the deal said pricing was 25bp tighter than loans for fellow South African banks Standard Bank and Investec earlier this year.
“[FirstRand] has the
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