Standard Bank of South Africa, based in the Isle of Man, is one of 19 banks lending ?250 million to Standard Bank Asia in a three-year transferable term loan.
The transaction was self-arranged by the borrower and saw BayernLB, Commerzbank, DZ Bank, Industrial & Commercial Bank of China, Standard Chartered Bank and Sumitomo Mitsui Banking Corp joining as coordinating arrangers.
The funds are to refinance a $250 million transaction signed in April 2005 and for general corporate purposes.
(Picture: The view from the end of Athol Street, the heart of the Isle of Man's financial sector, from manxscenes.com).
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