M a r k e t N e w s

African Trade & development receive $320 million

Posted on : Tuesday, 2nd December 2014

 A variety of lenders are designated mandated lead arrangers including several African banks: Rand Merchant Bank, Bank du Caire and Nedbank.

Admassu Tadesse, the PTA Bank President said, “We are grateful to our correspondent banking partners for their increased African appetite and their confidence in PTA Bank as it continues to grow, modernise and vigorously pursue our vision of being a world class specialised African financial institution.” 

Other arrangers are Commerzbank, KfW Ipex, Industrial and Commercial Bank of China, Mashreq Bank, Sumitomo Mitsui Banking Corporatio, Standard Chartered, Bank of Tokyo Mitsubishi, Al Ahli Bank and China Exim Bank.

The facility was 1.6 times oversubscribed, raising more than double the $150 million reached in 2012. The bank has a plan to raise short and medium-term financing for trade from international capital markets, as well as longer-term financing from development financing partners for projects in areas such as renewable energy, cross-border power and transport infrastructure.

Source : http://www.busiweek.com/
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