Industrial and Commercial Bank of China contributes to a $450 million senior unsecured term loan facility to Nedbank

Project narrative

On May 5, 2017, Nedbank borrowed $450 million in a senior unsecured term loan facility from an international syndicate of sixteen (16) lenders. This syndicate included Bank of China's (BOC) London and Singapore branches (captured in Records ID #96723 and #110374) and the Industrial and Commercial Bank of China (ICBC) (captured in Record ID #96765). Nedbank originally sought $350 million, but increased the loan facility amount to $450 million due to oversubscription. The loan facility replaced a maturing $210 million loan facility borrowed in May, 2014. The terms of the loan included a three (3) year non-negotiable maturity date and an interest rate of contemporary LIBOR (0.929%) plus a 1.425% margin rate. BofA Securities (formerly known as Bank of America Merrill Lynch) and Wells Fargo Bank acted as joint co-ordinators and bookrunners, with BofA Securities as documentation agent and Wells Fargo's London branch as facility agent. Mandated lead arrangers on the facility were Bank of China's London and Singapore branches, Bank of Taiwan, Commerzbank, HSBC, Industrial and Commercial Bank of China (ICBC), JP Morgan, Standard Chartered, State Bank of India and MUFG Bank (formerly known as Bank of Tokyo-Mitsubishi UFJ). Arrangers were BayernLB, Doha Bank, Hua Nan Commercial Bank and Taiwan Business Bank.