It’s the first syndicated loan linked to sustainability signed by Investec Bank Limited and the second for the Investec group.
The banks Abu Dhabi Commercial Bank PJSC, Bank of America, Industrial and Commercial Bank of China Limited, London Branch, SMBC Bank International plc, Standard Chartered Bank and State Bank of India participated in this loan agreement as coordinators, tenors of associated and leading books. Bank of America contributed as documentation agent and Commerzbank Aktiengesellschaft, Subsidiary Luxembourg as facility agent.
The financing facility was launched at USD 300 million and the oversubscription reached more than two and a half times the original amount. In total, 22 banks have signed up in this transaction in North America, Europe, the Middle East and Asia.
The success of the transaction underscores the continued support of the international syndicated loan market for Investec, as global markets continue to recover from the Covid-19 pandemic.
For this transaction, the syndicate of banks led by Bank of America Europe DAC was advised by a international team associating the Baker McKenzie offices in Paris, London
and Johannesburg. The team consisted of: Michael Foundethakis (partner), Jessica Riley (collaborator), Raphael Buchinger (collaborater), Lodewyk Meyer (Partner) Chantel van Zyl (collaborator) and Lucy Stratton (collaborator).
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