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(Ecofin Agency) - Standard Bank, Africa’s leading bank in terms of assets volume, mobilized one billion dollars on the international capital market, an official release announced. The South African bank’s bonds were overwritten since initial demand was $600 million. The loan will mature in three years and its rate is 1.2% higher than that of inter-bank loans within the London stock market or Libor.

 

“It is the highest amount we have ever raised on the international bond market. We are satisfied with its cost and its volume,” said Standard’s financial director, Amo Daehnke. The sum borrowed will be used to finance trade but also investments in energy, mining, and infrastructures in Sub Saharan Africa.

 

Since 1995, Standard Bank has mobilized close to $15 billion. Globally, this loan adds to $6.7 billion that African companies got from the international debt market at the end Q1 2016. A record which is due in part to lower currency liquidity for firms investing in the area, and in another part to the opportunity that the situation provides banks in terms of loans.