Intesa Sanpaolo, Investec Bank jointly arrange $150m syndicated loan facility on behalf of Tanzania’s CRDB Bank

Intesa Sanpaolo and Investec Bank have successfully raised US$150m on behalf of CRDB Bank, Tanzania’s largest bank, in the form of a syndicated term loan facility. The transaction is a refinancing of the facility successfully raised on behalf of CRDB Bank last year. The transaction achieved a number of landmarks, including the extension of the tenor on a portion of the loan amount (US$28m) to two years, with the balance over one year (US$122m). The transaction also broadened the base of lenders, with funding coming from a geographically diverse group that included banks and institutions in South Africa, Italy, Mauritius,…