Absa loan closes at $500m after heavy oversubscription

South African Flag 230x150
By Mariam Meskin
28 Jun 2019

The loan, which marks Absa's return to the syndicated loans market after a decade, demonstrates healthy demand for the South African bank, despite the question marks surrounding credit risk in the country.

The $500m term loan facility has a tenor of two years with the option of a one year extension. 

The margin on the loan is 105bp. Fees are 25bp, making all-in pricing 130bp, confirmed sources close to the matter

The facility was launched in May at $300m, but after ...

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