South Africa`s Standard Bank signs increased $560 mln loan

Standard Bank of South Africa has signed an increased $560 million three-year term loan with a group of fourteen banks.
The deal which was initially launched at $375 million pays a margin of 100 basis points (bps) over Libor.
Mizuho Bank acted as co-ordinator, bookrunner and mandated lead arranger, documentation, publicity and signing agent.
Abu Dhabi Commercial Bank, Bank of America Merrill Lynch, BayernLB, BNP Paribas, Citi, Commerzbank, First Gulf Bank, HSBC Bank, JP Morgan, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Bank of Tokyo-Mitsubishi and Wells Fargo Bank are bookrunners and mandated lead arrangers.
BayernLB is the facility agent.
The loan will be used to refinance a portion of the Standard Bank's May 2012 $1.350 million loan facility which is due to mature next year, according to one banker. That deal paid a margin of 200bp over Libor.
Bank of Tokyo-Mitsubishi, China Construction Bank, Citibank, HSBC, Mizuho and Standard Chartered acted as bookrunners on the 2012 deal.