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
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
Or sign up for a trial to gain full access to the entire site for a limited period.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.