The lenders are Industrial and Commercial Bank of China (Macau) Limited, which has a 20% stake in Standard Bank, Bank of China, China Development Bank and China CITIC Bank. The five-year loan is for “general corporate purposes”, according to the bank, and is repayable in a bullet capital single tranche on old age.
Jacko Maree, Chief Executive of the Standard Bank Group, said: "This deal is a first for a South African borrower dealing in the Asian market. The deal reflects the trust that Chinese banks have in Standard Bank, Africa and emerging markets, despite the tough global capital markets.
"This deal will serve as a platform for future collaboration between Standard Bank and these banks across a range of different banking products and geographies to support Chinese companies going global into emerging markets."
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Jacko Maree, Chief Executive of the Standard Bank Group, said: "This deal is a first for a South African borrower dealing in the Asian market. The deal reflects the trust that Chinese banks have in Standard Bank, Africa and emerging markets, despite the tough global capital markets.
"This deal will serve as a platform for future collaboration between Standard Bank and these banks across a range of different banking products and geographies to support Chinese companies going global into emerging markets."
useful links: los angeles movers, transport rankings
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