South Africa: Absa Bank secures $500 mln syndicated loan from Standard Chartered and Bank of America
Monday, 01 July 2019 19:33
South Africa’s Absa Bank Limited announced it is getting $500 million syndicated loan from Standard Chartered and Bank of America Merrill Lynch. Repayment period is two years with a one-year extension option. Interest rate is 1.05% per annum.
According to the financial director of Absa Group Ltd., Jason Quinn, the loan will be used to fund the bank’s credit portfolio and its other regional operations. Absa expects to increase revenues on the South African market by 2021 and plans expansion in Nigeria.
Chamberline MOKO
Live News
-
IFC Considers $88.34M Investment for Cocoa Plant Expansion in Côte d’Ivoire
08:56
-
Uganda to Receive Up to $1.7bn Under Trump’s Health Funding Plan
08:51
-
API-ZF Promotes Togo’s Investment Framework at Lomé Fair
08:24
-
Ukraine Sanctions Three Cameroon-Flagged Ships for Russian Wheat Transport
08:01
-
Cameroon Waives $16mln in Green Energy Taxes Over Two Years
07:42
-
Cameroon Cocoa Market Sees CFA170 Rebound After Prolonged Decline
07:42
-
Start-up Meetable Tackles Urban Isolation With Shared Meal Experiences
04:20
-
IUCEA and MindHYVE.ai Launch Two-Year Programme to Build Regional AI Skills
03:55
-
Daniel Katz Builds Platform to Stabilize Crypto Transactions for Merchants
03:43
-
With HireSales, Brandon Ragunanan Streamline Sales Recruitment
03:36
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
Uganda signed a bilateral agreement for as much as $1.7 billion in U.S. health funding The plan requires Kampala to increase domestic health...
Three Cameroon-flagged vessels were listed among 56 ships sanctioned by Ukraine Kyiv targets maritime trade flows seen as supporting Russia’s war...
Cameroon waived more than CFA9 billion in taxes on renewable energy equipment The incentives target solar power and potable water production...
Liberia signed an agreement for a 50-hectare pilot rice farm in Bong County The project supports technology transfer and aims to raise local rice...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...