Emirates NBD Capital Limited (coordinator and bookrunner) is pleased to announce the successful closure and signing on 12 May 2015 of a US$235 million term loan facility for FirstRand Bank Limited ("FRB").
Launched at US$125 million, the facility was oversubscribed to close at US$235 million with participation from 9 institutions from the GCC. The facility is denominated in US dollars with a tenor of two years. The margin is 100 basis points per annum over Libor.
The success of this transaction is testament to FRB's strong working relationships in the region as well as the GCC's increased interest in African entities.
About FRB:
FRB is a wholly-owned subsidiary of FirstRand Limited ("Group"), the largest financial institution in Africa by market capitalization. Through its portfolio of leading financial services franchises; First National Bank (FNB), the retail and commercial bank; Rand Merchant Bank (RMB), the corporate and investment bank; WesBank, an instalment finance provider; and Ashburton Investments, the recently-established investment management business, the group provides banking, insurance and investment products and services to retail, commercial, corporate and public sector customers. In addition to South Africa, the group has operations in nine African territories, namely, Botswana, Namibia, Swaziland, Lesotho, Zambia, Mozambique, Tanzania, Ghana and Nigeria. FirstRand Bank has branches in London and India.
© Press Release 2015
