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CfC Stanbic Bank inks loan facility worth $135M

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CfC Stanbic Bank inks loan facility worth $135M

Standard BankGroup Ltd. unit CfCStanbic Bank Ltd. on March 31 signed a dual tranche loan facilityworth $135 million, according to an April 4 press release posted by .

Emirates NBD Capital and Mashreqbank acted as initial leadarrangers and book runners on the transaction. Al Ahli Bank ofKuwait KSCP, AfrAsia Bank Ltd., Bank Muscat SAOG, Commerzbank AG, FilialeLuxemburg, Investec Bank Ltd., SBM Bank (Mauritius) Ltd. and United Arab BankPJSC served as lead arrangers, with Al Khaliji France and Federated Project andTrade Finance Core Fund as arrangers.

The proceeds of the transaction, which was oversubscribed fromthe launch amount of $100 million, will be used for general corporate purposes,including for the financing of trade-related activities.