Standard Bank announces the successful close of a landmark US$800 million sustainability-linked syndicated loan, attracting investors from across the globe
The Standard Bank of South Africa Limited (“Standard Bank” or the “Borrower”), the largest bank in Africa by assets, announces the successful closing of a US$800 million sustainability-linked syndicated loan (the “Facility”). The Facility was coordinated by Bank of America Europe Designated Activity Company (“BofA”), Industrial and Commercial Bank of China Limited, London Branch (“ICBC”) and Standard Chartered Bank (“SCB”), with BofA and SCB acting as joint sustainability coordinators.
Initially launched at US$500 million, the Facility was well received by the international loan market and was significantly oversubscribed, with commitments totalling over US$1 billion. The syndicate comprises a diversified group of investors from across the globe; a total of 30 banks from across North America, Europe, the Middle East, Asia and Australia committed to the transaction.
The interest rate on the loan is linked to Standard Bank’s performance against two sustainability key performance indicators (“KPIs”). The KPIs align with Standard Bank’s sustainability strategy and relate to green finance and social finance mobilisation. The facility is structured as a two-year loan with an option for Standard Bank to elect to extend for a further year.
“The success of the transaction highlights the international syndicated loan market’s continued confidence in, and support for, Standard Bank and its Africa growth strategy. This is reflected in the Bank’s purpose statement: ‘Africa is our home, we drive her growth,’” said Luvuyo Masinda, Chief Executive Officer, Corporate and Investment Banking at Standard Bank.
This Facility is the largest sustainability-linked loan by an African borrower in 2026 to date, according to data from Dealogic.