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South Africa’s FirstRand Bank raises $235m via two-year loan in Gulf

South Africa’s FirstRand Bank raises $235m via two-year loan in Gulf

The loan was priced at 100 basis points over the London interbank offered rate, with the participation of nine institutions from the GCC.

FirstRand, the South African lender, has raised $235 million in a two-year loan, Emirates NBD Capital, the coordinator and bookrunner for the transaction, said on Monday.

The loan was priced at 100 basis points over the London interbank offered rate, with the participation of nine institutions from the Gulf Cooperation Council, said Emirates NBD Capital, the investment bank owned by Emirates NBD, Dubai’s largest bank.

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