Nedbank seals $450m loan from Asian lenders

South AFrica for GC
By Bianca Boorer
17 May 2017

South Africa’s Nedbank signed a $450m syndicated loan in an oversubscribed deal on Tuesday, adding to the rising trend of emerging markets borrowers turning to Asian banks for capital.

The bullet facility, launched on March 16, was initially $350m but due to the “outstanding response” from 16 banks the amount went up by $150m, said the bank.

It plans to use the three year loan to refinance ...

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