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Bank of China (Johannesburg Branch) contributes to a $635 million USD syndicated loan to South Africa's Investec Bank (linked to Record ID#98650, 98651, 98695)
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | Investec Bank Limited |
| Country | South Africa |
| Start Date | Apr 08, 2016 |
| End Date | Oct 18, 2029 |
| Duration | 4,941 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 98652 |
Grant Description
In 2016, ICBC (London), China Construction Bank, and Bank of China contribute to USD 635 million syndicated loan to South Africa's Investec Bank On April 8, 2016, the Bank of China (Johannesburg Branch) contributed to a $635 million USD syndicated loan to South Africa's Investec Bank. This loan carried an interest rate of 2.292% and fees of 50bp for top tickets.
It appears that this loan refinanced a 2013 loan, but no further information was found.
The book-runners and mandated lead arrangers for this loan were Bank of America Merrill Lynch, BayernLB, Commerzbank, ICBC (London) (Record ID#98650), and Mizuho.
Mandated lead arrangers were JP Morgan, Lloyds, Bank of China (Johannesburg Branch) (Record ID#98652), Citi, HSBC, Intesa Sanpaolo (London Branch), and Standard Chartered Bank.
Lead arrangers were China Construction Bank (Johannesburg branch) (Record ID#98651), ING, BNP Paribas, UniCredit, Wells Fargo, WGZ Bank, Oberbank, and Oyak Anker Bank.
On March 20, 2018, ICBC contributed to a $300 million USD syndicated loan to South Africa's Investec Bank Limited (Record ID#98695). The purpose of this loan was to refinance an April 2016 $635 million USD loan.
Staff Comments
- Since no further information was found, Aiddata assumes that each of the 20 lenders contributed equally at 31,750,000 USD.
- Aiddata calculates the interest rate by adding the 6-month LIBOR rate + basis points. In April 2014, the 6-month LIBOR rate was 0.842% + 1.45% = 2.292%
Sources & References
Investec pulls in new lenders for $635m loan Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Investec Bank Limited
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