Standard Bank supports Bidvest’s strategic ambitions with EUR862.5m multi-currency offshore funding facility

Founded in 1988 and listed on the JSE Limited in Johannesburg, SA, Bidvest is a leading industrial group with over 250 individual businesses and employs over 125,000 people in SA, the United Kingdom, Republic of Ireland, Spain and Australia.

The bank acted as Joint Coordinator, Bookrunner and Mandated Lead Arranger in the transaction. The EUR862.5m facility puts the company in a position to execute on future potential mergers and acquisition opportunities. The amended arrangement gives Bidvest funding flexibility at only a slight increase in funding margin for a three-year term, with two one-year extension options.

This transaction demonstrated the bank’s ability to leverage its in-depth and up-to-date market insight and execution expertise of such market transactions, to create a bespoke and holistic syndication solution for a key client with further support offered through its participation in the facility.

Standard Bank is proud to support our SA corporates in funding their offshore growth strategies by helping to raise funding in markets beyond the African continent.