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Standard Bank secures $60 mln, 174.5 mln euro loan

Mon Sep 22, 2008 8:02am EDT

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JOHANNESBURG, Sept 22 (Reuters) - Standard Bank (SBKJ.J), Africa's biggest bank by assets, said on Monday it had secured a $60 million and 174.5 million euro three-year syndicated loan facility.

The loan facility, which will be priced at 115 basis points over libor, will be used for general financing requirements, including trade related finance, the South African firm said.

"We are delighted with the raising of the facility especially given the current volatility in global financial markets," Standard Bank Group's Chief Financial Officer Simon Ridley said. (Reporting by Serena Chaudhry)



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