Trade and Development Bank (TDB), an Africa-focused multilateral lender, has closed an US$800mn syndicated term loan with 21 banks.
The deal was led by Mizuho and Standard Bank as global co-ordinators, while Commerzbank acted as facility agent.
TDB said the proceeds will be used for refinancing, trade finance and general corporate purposes. It comprises 1.5-year and 3-year bullet repayment tranches and was 1.4 times oversubscribed, the bank said.
Bookrunners and initial mandated lead arrangers included: Abu Dhabi Commercial Bank, Citi, Commerzbank, Emirates NBD, FirstRand Bank Limited (London branch) acting through its Rand Merchant Bank division; Industrial and Commercial Bank of China (London branch), Mashreqbank, Mizuho, MUFG, SMBC, Standard Chartered and Standard Bank.
TDB said the geographic spread of the banks participating in the loan underlined its strong and resilient funding base.
The lender said it closed a similar globally syndicated loan of US$854.6mn at the end of last year.
TDB has also made use of debt backed by multilateral and state-backed agencies.
In 2024, the Multilateral Investment Guarantee Agency covered a bilateral loan provided by Standard Chartered. That same year, TDB secured a US$100mn facility from British International Investment and an untied guarantee from Italy’s export credit agency, supporting a loan from Citi and SMBC.
