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Standard Bank leads Tanzanian syndication first
11 August 2011
New ECA-backed deal with Tanzania to build roads marks the government’s first foray into the syndications market to help fund the country’s long-term development needs.
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Tanzania
syndications market
Standard Bank
ECA
ECIC
ATI
Standard Bank has signed a $250 million seven-year syndicated loan on behalf of the government of Tanzania to help build roads.
The deal marks the first time the government of Tanzania has used the syndications market. It is rumored that the Tanzania government is also looking at a possible bond issue later in the year.
Standard Bank of South Africa Limited and its subsidiary, Stanbic Bank Tanzania Limited, are leading the deal which consists of an accordion structure loan divided into three tranches. Tranche A is up to up to $100...
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