Absa nears end of syndication as pricing compresses

African Bank correct size
By Mariam Meskin
25 Jun 2019

South Africa’s Absa Bank is expected to close its loan syndication by the end of this week, as an abundance of liquidity in the loan market, as well as healthy investor appetite for bank debt, causes pricing compression.

The transaction was launched at between $300m and $400m, though bankers close to the deal confirmed the final deal will close at over $400m after “huge oversubscription”.

The tenor of the loan is likely to be two years with the choice of a one-year extension. 

Bank of America Merrill Lynch ...

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