The Bank of Industry (BOI) has announced the successful conclusion of a landmark $1bn loan syndication transaction aimed at improving the capacity of the bank to effectively support Micro, Small, Medium and Large enterprises across key sectors.
According to a statement from the bank, the transaction marked the third major international debt syndication deal successfully concluded by BoI within the last three years.
The bank recalled that in 2018, it had raised the sum of $750m, arranged by African Export-Import bank, which had been fully repaid. In addition, in March this year, it concluded another €1bn loan deal, lead arranged by Afreximbank, Credit Suisse, Rand Merchant Bank and Sumitomo Mitsui Banking Corporation Europe Limited.
The statement said, “We are pleased to report that 28 international financial institutions and funds participated in this transaction, which was initially launched at US$750m, but upsized to $1bn due to over-subscription.
“With the successful conclusion of this deal, the board and management of Bank of Industry is confident that the bank is now better positioned to catalyse domestic production, facilitate job creation on a transformational scale and attract domestic and foreign investments.
