Baker McKenzie's Banking and Finance team advised the lenders, led by Bank of America Merrill Lynch International limited and Commerzbank Aktiengesellschaft on a US$ 600-million syndicated loan facility to Investec Bank Limited, the South African subsidiary of Investec Limited. In an overwhelmingly successful syndication, Investec attracted over USD 700-million of commitments from 30 lenders.
The deal comprised 18 bookrunners and mandated lead arrangers, five lead arrangers and seven arrangers.
The joint coordinators for the facility were Bank of America Merrill Lynch and Commerzbank. The bookrunners and mandated lead arrangers were Abu Dhabi Commercial Bank, BAML, Bank of Baroda, Bank of China, BayernLB, Citi, Commerzbank, First Abu Dhabi Bank, HSBC, ICICI Bank, Industrial and Commercial Bank of China, ING Bank, JP Morgan, Lloyds Bank, Mashreqbank, Mizuho Bank, Standard Chartered and State Bank of India. The lead arrangers were the Bank of Taiwan, BNP Paribas, Erste Group, KfW IPEX-Bank and Wells Fargo.The arrangers were: AfrAsia Bank, DZ Bank, Deutsche Zentral-Genossenschaftsbank, Jih Sun International Bank, Oberbank, Oyak Anker Bank, Raiffeisenlandesbank Oberösterreich and The Export-Import Bank of the Republic of China.
The team of Baker McKenzie was led by Michael Foundethakis, Partner in Paris and Global Head of Banking & Finance, and in Johannesburg by Banking & Finance Partner, Jen Stolp.
Baker McKenzie extends congratulations to all the parties involved in the transaction.
Baker McKenzie's Banking & Finance practice has more than 900 finance lawyers around the world, including 300 partners. Based in the world's major financial centres and key emerging markets including Africa, Latin America, Russia & the CIS and the Middle East, the practice is noted for its expertise in Project Finance, Acquisition Finance, Trade & Export Finance, Real Estate Finance, Restructuring & Insolvency, Financial Services and Regulatory, Derivatives and Securitisation.