South African Bank Investec has agreed a $300m term loan facility with a consortium of international lenders. The deal, Investec's second syndicated facility this year, confirms that lenders remain committed to the South African market despite uncertainty around the country's economy and investment-grade ratings.
The deal was launched at $250m, but closed at $300m due to excessive demand. It has a tenor of two years with an option to extend it by one year.
and mandated lead arrangers were Citi, Commerzbank
Banco BAI, Bank of America, Bank of China, HSBC, Industrial and Commercial