The Eastern and Southern African Trade and Development Bank (TDB) has signed a US$460mn syndicated term loan facility.
It will be used to finance trade, for general corporate purposes, and to refinance a US$400mn facility signed in October 2016.
The deal is split across two tranches: a US$200mn two-year bullet term loan priced at 1.2% a year, and a US$260mn three-year bullet term loan priced at 1.4%.
Bookrunners and initial mandated lead arrangers on the facility were: Commerzbank, Emirates NBD Capital, First Abu Dhabi Bank, Industrial and Commercial Bank of China, Mashreq, Mizuho Bank, MUFG Bank, Standard Chartered and SMBC. Standard Chartered acted as documentation agent and Citi as facility agent.
TDB president and chief executive Admassu Tadesse says that “TDB is delighted with this fruitful and efficient transaction with a diverse group of international banks, who have been reliable commercial funding partners for several years”.