Investec set to sign oversubscribed two year refi

26 Sep 2011

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 ...

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