The much-discussed Cocobod transaction has reached financial close for 2013.

The one-year US$1.2bn pre-export finance (PXF) facility had six co-ordinating mandated lead arrangers (the Bank of Tokyo Mitsubishi-UFJ (BTMU) Crédit Agricole, Nedbank, Rand Merchant Bank and Ghana International Bank), all of which acted as underwriters.

The facility was oversubscribed: Cocobod attracted commitments in excess of US$2bn but scaled-back to US$1.2bn.

Other financial institutions on the transaction include: DZ Bank, Sumitomo Mitsui Banking Corporation (SMBC), Commerzbank, Deutsche Bank, HSBC, Natixis and Rabobank (all senior MLAs); Citibank (MLA); ABN Amro, Barclays, BHF Bank, BNP Paribas, ICBC, KfW Ipex and Standard Chartered (lead arrangers); Intesa Sanpaolo (arranger); Ecobank Ghana and Federated Project and Trade Finance Core Fund (managers).