Dubai - Mubasher: Stanbic Bank Uganda Limited, a group company of Standard Bank Group Limited, South Africa has inked an $85 million 18-month term loan facility on January 28, 2015, in Dubai. Emirates NBD Capital was the sole co-ordinator and bookrunner of the financing. 

Al Ahli Bank of Kuwait (ABK) and Standard Chartered Bank joined the transaction as Mandated Lead Arrangers alongside the UAE’s Emirates NBD Bank. Qatar’s Al Khalij Commercial Bank and Commercial Bank of Qatar (CBQ) took part in the facility as Lead Arrangers.

Said to be used for corporate purposes, including trade-related finance exclusively in the specific sectors of energy, manufacturing and telecommunications services, infrastructure, real estate and agriculture for the bank, the facility was oversubscribed from the initial launch amount of $75 million. The facility pays 250 basis points (bps) margin over LIBOR.

Mohammad Kamran Wajid, Emirates Financial Services and Emirates NBD Capital CEO, commented that “Emirates NBD Capital is pleased to have played a leading role in partnering with Standard Bank Group in this landmark transaction for Stanbic Uganda. Emirates NBD’s commitment in this transaction is part of our global diversification strategy which envisages fostering and enhancing cooperation with market leading enterprises across the globe. This transaction is testament of our intention to grow our footprints in the African Loan & DCM markets”.