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
-
In Lomé, experts explore communication as a lever for climate action
17:47
-
Algeria-Qatar $287m hospital project targets 2027 delivery
17:46
-
Two Pan-African Competitions Launch Applications, Offering Funding for Agri-Food and Digital Start-ups
17:38
-
Togo plans supplementary health cover to strengthen universal insurance
17:35
-
Mozambique begins construction of solar power plant to supply 1,200 rural households
16:50
-
Cotton Prices Reach 12-Month High on Supply Concerns and Rising Costs
16:45
-
Senegal’s Unemployment Rate Hits 23.3% Under Broad Definition, vs 5.4% by ILO Standard
16:39
-
Togo Reviews BOAD Projects as New Regional Program Is Launched
13:30
-
Togo to distribute solar kits to 100,500 households under CFA2.4 bln plan
13:24
-
Cameroon Targets 25,000 Tons of Fish Output by 2029 to Curb Import Dependence
12:51
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
$287 million hospital project shows accelerated construction progress Authorities reaffirm 2027 commissioning timeline following site...
Mozambique starts solar plant project to power 1,200 households $12 million project backed by South Korea, built in Tete Initiative aims to...
Cotton prices hit 12-month high, rising 8.7% since December Gains driven by tighter supply, lower U.S. acreage forecasts Rising fertilizer...
Senegal broad unemployment rises to 23.3% in Q4 2025 Rate highlights underemployment beyond 5.4% ILO measure Youth, women, rural areas...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...