The Standard Bank of South Africa (SBSA) has signed a $520m syndicated term loan facility with various Chinese banks.
The facility, which was coordinated by the Industrial and Commercial Bank of China, has a 36-month term and will be used for general financing purposes.
“The successful syndicated loan facility speaks to Standard Bank’s deep commitment to the societies in which we operate, leveraging the group’s extensive footprint and expertise across the full product range, for our personal, business and corporate customers,” says SBSA CEO Lungisa Fuzile.