Dubai 6 October 2015: CFC Stanbic Bank Limited, Kenya, a group company of Standard Bank Group Limited, South Africa signed a US$155,000,000 dual tranche term loan facility on October 5th 2015, in Dubai. Emirates NBD Capital Limited was the Sole Co-ordinator and Bookrunner of the financing.
Abu Dhabi Commercial Bank PJSC, Al Ahli Bank of Kuwait K.S.C.P, The Commercial Bank (Q.S.C.), Mizuho Bank, Ltd and Standard Chartered Bank joined the transaction as Mandated Lead Arrangers alongside Emirates NBD Bank PJSC, while AfrAsia Bank Limited, Al Khaliji France S.A. ,and Commerzbank Aktiengesellschaft, Filiale Luxemburg participated as Lead Arrangers. Doha Bank participated as Arranger. The financing, which will be used for general corporate purposes, was oversubscribed from the initial launch amount of US$ 100,000,000.
Dr. Rassem Zok, CEO Standard Bank of South Africa, MENA stated that "The very positive response for this facility from the Middle Eastern and International banks again confirms interest in Africa and trust endorsed to Standard Bank Group's strong financial position despite difficult market conditions. We are grateful as always for the support we have received from the regional FIs"
Mohammad Kamran Wajid, CEO, Emirates Financial Services and Emirates NBD Capital said "Since the beginning of the year we have arranged a number of syndicated loan transactions for African FIs. We are pleased to have again partnered with Standard Bank Group in yet another landmark transaction for its subsidiary, CfC Stanbic Bank Limited, Kenya. This transaction further cements our footprints in the African Loan & DCM markets"
Faisal Lalani, Head - Institutional & International Banking, Emirates NBD Bank said; "In our efforts to grow our global market share, we have been aggressively pursuing business from our counterparts in Africa including Standard Bank Group. Our efforts have resulted in us winning mandates to run their previous syndications for Kenya and Uganda respectively. This transaction on CFC Stanbic Kenya adds another feather to our cap in supporting a valued client of ours in Standard Bank Group."
About CFC Stanbic Bank Limited, Kenya and Standard Bank Group Limited
CFC Stanbic Bank Limited, Kenya is a public limited liability company . Standard Bank Group Limited ("SBG") is Africa's largest banking group with presence in 19 African countries and is a major player in natural resources. ICBC of China is SBG's largest single shareholder.
About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at 30th June 2015, total assets were AED 388.1 Billion, (equivalent to approx. USD 105 Billion). The Group has a leading retail banking franchise in the UAE, with more than 220 branches and over 900 ATMs and CDMs in the UAE and overseas. It is a major player in the UAE corporate and retail banking arena and has strong Islamic banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.
The Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Singapore, the United Kingdom and representative offices in India, China and Indonesia.
The Group is an active participant and supporter of the UAE's main development initiatives and of the various educational, environmental, cultural, charity and community welfare establishments.
© Press Release 2015
