Africa Loans

Stanbic IBTC, the subsidiary of Standard Bank also known as Stanbic Nigeria, signed its debut syndicated loan on Wednesday with a mostly Middle Eastern syndicate.

Kenya is offering to pay a margin 45bp higher than on its last loan, signed in 2012, as it syndicates a new $600m two year financing. The loan is drumming up strong interest.

FirstRand Bank was due to complete a $225m loan this week and bankers predict that more South African banks will come to the market regularly with smaller deals.

First City Monument Bank (FCMB) has signed a $77m one year loan, the first international syndicated loan this year for a borrower in Nigeria, which has been struggling with a low oil price and political instability.

First City Monument Bank (FCMB) has signed a $77m one year loan, the first international syndicated loan this year for a borrower in Nigeria, which has been struggling with a low oil price and political instability.

South African media group Naspers has amended and extended a $2.25bn five year loan and increased it to $2.5bn.

First City Monument Bank (FCMB) has signed its $77m loan, the first international syndicated loan this year for a borrower in Nigeria, which has been struggling with a low oil price and political instability.

As Ecobank syndicates one of the first Nigerian loans of the year, new lenders are joining the syndicate from Africa and, more surprisingly, the Middle East.

South African media group Naspers has finished amending and extending a $2.25bn five year loan and has added another $250m to the deal size, taking it to $2.5bn.

First City Monument Bank will close the first Nigerian bank loan of the year, a $75m later today (Wednesday), according to a banker close to the deal.

Nigeria’s First City Monument Bank (FCMB) will close a $75m loan this week, in a deal that cuts FCMB’s dollar syndicated loans from $150m to $75m.

South Africa’s Investec Bank is accessing the syndicated loan market for the fifth time this year, and is shaking things up by tapping Asian bank liquidity for a $100m three year borrowing.