Standard Chartered Leads USD 120M Sub-saharan Trade Favility
London, May 2010
Standard Chartered Bank is Mandated Lead Arranger (MLA) in a USD 120M structured soft commodity syndicated loan for 'Export Trading Group'. Standard Chartered Bank is joined by The International Finance Corporation and The OPEC Fund for International Development as Participants in the transaction.
Export Trading Group (ETG) is one of the largest integrated agricultural supply chain companies in Africa with a primary focus on agriculture. The Group and its affiliated companies employ over 7,800 staff.
The loan will be used to finance the trade of soft commodities in multiple African markets e.g. Tanzania, Zambia, Kenya, Malawi and Uganda, as well as India and China, and will support economic growth and food security.
Standard Chartered's extensive experience in Structured Agricultural Finance products along with its distinctive footprint across Africa, Asia and the Middle East positions it perfectly to support valuable relationships such as Export Trading Group.
"This deal demonstrates Standard Chartered Bank's commitment to the development of the agricultural sector across Africa by supporting the growth needs of our core clients. It reinforces Standard Chartered's brand promise of being ‘Here for progress'" commented Anil Dua, Head of Origination and Client Coverage for Standard Chartered in Africa.
For further details please contact:
Head of Corporate Affairs, South Africa
Mobile: +27(0)82 894 5581
Notes to Editors
Standard Chartered - leading the way in Asia, Africa and the Middle East
Standard Chartered PLC is a leading international bank, listed on the London and Hong Kong stock exchanges. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years.
With 1700 offices in 70 markets, Standard Chartered offers exciting and challenging international career opportunities for its 75,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. The Bank's heritage and values are expressed in its brand promise, 'Here for good'.
Standard Chartered Africa
Standard Chartered has operated in Africa for over 146 years and the region remains a core part of the Bank's Group Strategic Intent. Standard Chartered Bank has over 160 branches in 14 African countries and over 6,000 staff. Standard Chartered Africa is a highly respected, well established "household name", with deep-rooted local knowledge and experience. The Bank also has a unique international footprint which enables it to facilitate the growth of international trade corridors between Africa and the rest of the world. And with world-class suites of products, services, distribution channels and systems, the Bank provides customers with increasingly sophisticated and pioneering banking services - unrivalled in Africa.
In South Africa, Standard Chartered is focused on its successful Wholesale Banking strategy, leveraging its international footprint and expertise for the benefit of South African corporates and multinationals. In addition to the Bank's lending and financial markets capabilities, the Johannesburg Branch boasts 'Regional Centres of Expertise' such as Agricultural Finance, Project & Export Finance, Private Equity, Transaction Banking as well as mergers and acquisitions expertise within the Corporate Advisory and Finance team.
For more information on Standard Chartered, please visit www.sc.com.