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Stanbic Bank Uganda Limited, a group company of Standard Bank Group Limited ("SBG"), South Africa signed a US$85 Million 18-month term loan facility on 28 January 2015, in Dubai. Emirates NBD Capital was the Sole Co-ordinator and Bookrunner of the financing.
Al Ahli Bank of Kuwait K.S.C.P., Kuwait and Standard Chartered Bank joined the transaction as Mandated Lead Arrangers alongside Emirates NBD Bank PJSC, while Al Khalij Commercial Bank (al khaliji) Q.S.C. and The Commercial Bank of Qatar (Q.S.C.) participated as Lead Arrangers. The financing, which will be used for corporate purposes, including trade-related finance exclusively in the specific sectors of energy, manufacturing and telecommunications services, infrastructure, real estate and agriculture for the bank, was oversubscribed from the initial launch amount of US$ 75,000,000. The facility pays 250 basis points margin over LIBOR.
Patrick Mweheire, Chief Executive Officer, Stanbic Bank Uganda Limited said "As a debut borrower in the international loan market, I am extremely impressed that such a sizeable amount has been raised for the bank in an 18 month tenor".
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 confirms increasing interest in Africa and trust endorsed to Standard Bank Group's strong financial position; it also highlights the great Uganda growth story."
Mohammad Kamran Wajid, CEO, Emirates Financial Services and Emirates NBD Capital said "Emirates NBD Capital is pleased to have played a leading role in partnering with Standard Bank Group in this landmark transaction for Stanbic Uganda. Emirates NBD's commitment in this transaction is part of our global diversification strategy which envisages fostering and enhancing cooperation with market leading enterprises across the globe. This transaction is testament of our intention to grow our footprints in the African Loan & DCM markets".
About Stanbic Bank Uganda Limited and Standard Bank Group
Stanbic Bank Uganda Limited is a public limited liability company and the largest bank in Uganda in terms of total assets and market capitalization.
Standard Bank Group is Africa's largest banking group with presence in 20 African countries (including South Africa) and is a major player in the 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 31st December 2014, total assets were AED 363 billion, (equivalent to USD 98.8). The Group has a leading retail banking franchise in the UAE, with more than 215 branches and over 889 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, Qatar, 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
