Investec set to sign oversubscribed two year refi
Investec, the South African financial institution, will sign a two year loan on Wednesday. The dual-currency deal was planned to be $750m, but may be increased after the strong reaction from lenders.
The margin on the refinancing transaction is 125bp, while the all-in is slightly higher than 192bp, the level at which Investec is marketing a separate facility in Asia.
Commerzbank and Lloyds are co-ordinating the transaction.The borrower is refinancing a $300m five year deal signed in January 2007 and a ...