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 6314 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
MAC - Hyper Real Glow [22088-Views]
M∙A∙C Mineralize Total Detox [21210-Views]
Introducing Vitabrid C12, a brand-new, proprietary form of active Vitamin C being used for... [20539-Views]
5 things to know about collagen [12920-Views]
Fresh Hair in an Instant with SHOW Beauty [12548-Views]
PUMA and Sahntell Martin Unveil Debut Collection [10834-Views]
Amadeo® Fleurier 39 “Fan” [9833-Views]
Show/Pop-up Event “Pret-A-Cover™ Buyers Lane” to Be Launched in Dubai From March 28th to A... [9382-Views]
Moreish Café in Dubai introduces a healthy Quinoa Burrito [8808-Views]
Mother's Day Gift Guide 2018 from The Little Birdy Group [8674-Views]
True Colours [8485-Views]
Robinsons Honored for Outstanding Store Design [8461-Views]
UAE Team Emirates' Mirza Takes Gold at Asian Cycling Championships [7906-Views]
Phenomenal development in falconry racing from small beginnings: HHC Deputy CEO [7869-Views]
World-renowned Air Sculpture Artist Daniel Wurtzel collaborates with LG PuriCare™ air puri... [7832-Views]
WGS 2018: Opening Session Highlights Importance of Embracing Smart Living to Enhance Quali... [7723-Views]
MB&F M.A.D. Gallery presents aeronautical artwork "Nose Art” by French photographer M... [7454-Views]
Dubai Culture Announces an Exciting Line-up of Artists for SIKKA Art Fair 2018 [7308-Views]
Splash receives 2 awards [7125-Views]
Arab Duo Showcase Team's Potential in Final Stage of Dubai Tour [7052-Views]
RAK Hospital launches the biggest weight-loss challenge in association with MoHAP, RAK [6368-Views]
UAE Exchange Partners with Ripple for Instant Cross-Border Payments [6289-Views]
Bridal Glow is Skin Deep: Tips for every bride-to-be in 2018 [5874-Views]
Food Lovers Rejoice: Dubai Food Festival Is Back This Month [5850-Views]
2XL launches Malmo Bed with floral designs for a vintage shabby chic inspired master bedro... [5826-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories