IFLR1000

Stanbic IBTC $103 million financing

20/11/2015
Financing
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$ 103 million

Completed

20/11/2015

Overview:

  • The Nigerian branch of Stanbic Bank, Stanbic IBTC, itself a subsidiary of Standard Bank of South Africa, successfully raised $103 million in financing. 
  • The loan was granted by a syndicate of banks made up of  MashreqBank, The Commercial Bank and ING Bank as mandated lead arrangers and bookrunners.
  • Al Ahli Bank of Kuwait, Al Khaliji, Commerzbank, Doha Bank and SBM Bank acted as mandated lead arrangers. 
  • MashreqBank also acted as facility agent. 
  • The transaction was oversubscribed, despite testing economic conditions in Nigeria at the time. 

John Crabb - Journalist 

Jurisdiction:

Nigeria

Deal type:

Financing

Practice area:

Banking

Governing law:

England and Wales

Industry sector:

Banking

Firm:
Udo Udoma & Belo-Osagie

Party: Mashreq Bank (Mandated lead arranger, Bookrunner, Facility agent)

Party: The Commercial Bank (Mandated lead arranger, Bookrunner)

Party: ING Bank (Mandated lead arranger, Bookrunner)

Party: Al Ahli Bank of Kuwait (Mandated lead arranger)

Party: Al Khalij Commercial Bank (Mandated lead arranger)

Party: Commerzbank AG (Mandated lead arranger)

Party: Doha Bank (Mandated lead arranger)

Party: State Bank of Mauritius (SMB) (Mandated lead arranger)

Lawyer: Yinka Edu

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