Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Mashreq leads Stanbic Zambia Bank loan syndication for US$ 50 million
 

Dubai, United Arab Emirates- 18 October 2017:  Mashreq bank, the UAE’s leading financial institution closes a US$ 50 million two-year syndicated term facility for Stanbic Zambia Bank - a subsidiary of the Standard Bank Group (“SBG”). The transaction closed nearly two times oversubscribed. 

Mashreq, the coordinating bank and book-runner for Stanbic Zambia Bank’s second international syndication attracted many investors. Seven partners from MENA and GCC region participated including: Afrasia Bank Limited, Al Ahli Bank of Kuwait K.S.C.P, Investec Bank (Mauritius) Limited, Mizuho Bank, Ltd, Standard Chartered Bank as Mandated Lead Arrangers, The Commercial Bank PSQC as Lead Arranger, and Mizuho Bank, Ltd as agent bank.

Dr. Rassem Zok, Chief Executive of The Standard Bank of South Africa Limited DIFC, Dubai, commented: “We are delighted by the level of interest received from our FI partners in the regional market and internationally. Our sincere thanks to Mashreq for a very well executed transaction (in a record five-week time frame) and our continuous appreciation to the syndicate members for their support.”

Jan-Willem Sudmann, Head of International Banking Group at Mashreq commented: “This is yet another successful transaction emphasizing our strong ties with the Standard Bank Group. This was possible, thanks to the relationship that we have developed over several years and over several jurisdictions (South Africa, Nigeria, Kenya and now Zambia). We are grateful to our partners for their support on this transaction reflecting SBG’s sound pedigree and standing in the financial community.”

Charles Mudiwa, Chief Executive of Stanbic Zambia stated that 'Stanbic Zambia is happy to tap the international market for a second time. The funding will go towards the key economic growth sectors in Zambia such as the Industrial, Agricultural and the SME sectors, among others, which will help grow and diversify the economy. We are deeply thankful and appreciative of our partners in the transaction.'

Stanbic Zambia is a member of Standard Bank Group, which currently operates in 20 African countries: Angola, Botswana, DRC, Côte d’Ivoire, Ethiopia, Ghana, Kenya, Lesotho, Malawi, Mauritius Mozambique, Namibia, Nigeria, South Africa, South Sudan, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe. 

Posted by : Dubai PR Network Editorial Team
Viewed 4410 times
PR Category : Banking & Investments
Posted on : Wednesday, October 18, 2017  11:03:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Mashreq posts a 12.0% y–o–y growth in Net Profit for the fir...
Next Story : Dubai Government and Mashreq Bank Sign Agreement for Payment...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
New Season Haircare Must-Have: Head & Shoulders Invigorating Apple Fresh Range [22851-Views]
SOUQ.com to Launch Half a Million Deals for White Friday 2017 [15524-Views]
Roja Parfums ELYSIUM - Now available at Paris Gallery in UAE [12664-Views]
Give the Gift of Beautiful Hair with SHOW Beauty [11926-Views]
PLAY FOR PEACE, Spread Good Vibes this Christmas [11645-Views]
Runway Dubai Wrapped up an inspiring star studded event with iconic designer, Walid Atalla... [11364-Views]
Celebrating regional artistry, creativity and talent through a passion for makeup at the a... [10888-Views]
FOREO: Futuristic Gifting Ideas [9522-Views]
Infinix Launches Zero 5 in Dubai in Partnership with Souq.com [9162-Views]
Six pairs of Emirati siblings marched together at Skyline's 27th Graduation Ceremony [9150-Views]
Alessandro International mystifies with its launch event for its Winter Collection [7869-Views]
Stylish automatics from CITIZEN made for the special occasion [7857-Views]
TKD Lingerie: New lingerie treats for the holidays [7759-Views]
Tissot Chrono XL - It's time to think big! [7674-Views]
Santa Claus is coming to town on a festive Graham Chronofighter Vintage Nose Art Ltd [7155-Views]
Alpha Assured Assistance (AAA) Loyalty Program to ramp up loyalty landscape in the UAE [6704-Views]
ALWAYS TOP OF THE CHARTS: THE ICONS [6527-Views]
Ulysse Nardin Marine Torpilleur Military - The Mark of A Captain [6338-Views]
Chattels & More returns to Downtown Design showcasing limited edition pieces in contempora... [6179-Views]
Dubai RAK Diabetes Center launches Dhs 1 Diabetes screening for residents [6137-Views]
The Rado True Cyclo - Exclusive watch co-developed with French designer Philippe Nigro [5966-Views]
Tub Of Butter Celebrates First Birthday with 1 Dhs Coffee [5758-Views]
SAINT HONORE Celebrates the UAE's 46th National Day with a Limited Edition Haussman Quartz [5569-Views]
Malabar Gold & Diamonds launched its 195th store in Mandya, Karnataka, India [5545-Views]
SIAL Middle East to Host 22,000 Food Industry Experts [5423-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories