ING and Standard Chartered Bank as mandated lead arrangers have signed a US$35mn 364-day syndicated term loan facility for First National Bank of Namibia Ltd.

The facility was substantially oversubscribed in syndication, but the borrower has chosen not to increase the transaction size.

The margin is 40 bp per year and the loan is for general funding purposes.

Joining as an arranger are Natexis Banques Populaires, Barclays Bank PLC, South Africa, Citibank, Dresdner Kleinwort Wasserstein, Erste Bank, FBN Bank (UK) Ltd, and RZB.

Lead manager is Baden-Wurttembergische Bank.