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Conclusion of a R1,billion term funding facility for the IDC
Nedbank CIB Public Sector Debt Finance is proud to announce a R1 billion term-funding facility to the Industrial Development Corporation (IDC) to support the IDC's investment mandate.
The IDC is one of the most crucial state-owned companies in South Africa, with a mandate to develop industrial capacity and contribute to an inclusive economy.
The IDC, through its funding of various industries and sectors, promotes regional development and integration, economic empowerment of communities and the growth of black industrialists. Additionally, it remains committed to promoting environmentally sustainable growth.
The IDC is at the forefront of supporting the critical sectors of the economy, including mining, agriculture, manufacturing, tourism and telecommunications industries. To achieve this, the IDC raises the necessary funding from the debt capital markets, development finance institutions, and commercial banks.
Drawing on the Nedbank CIB Public Sector Team’s expertise, this deal highlights Nedbank’s continued support of the IDC’s commitment to fostering economic growth through funding that is used to create and sustain jobs while having a positive impact on the industrialisation of the South African and African markets.
The 5-year R1 billion term facility was concluded on a bilateral basis and follows a previous long-standing bilateral funding relationship between Nedbank and the IDC.
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R1 billion debt capital market issuance by OMLACSA
Nedbank Corporate and Investment Banking (CIB) is proud to announce that its Specialised Distribution Team has once again been mandated as sole lead arranger by Old Mutual Life Assurance Company South Africa Limited (OMLACSA), a subsidiary of Old Mutual Limited (OML), in its return to the South African debt capital markets for a R1 billion bond issuance.
Published 17 May 2024 in nedbank:cib/deals
R1 billion debt capital market issuance by OMLACSA
Nedbank Corporate and Investment Banking (CIB) is proud to announce that its Specialised Distribution Team has once again been mandated as sole lead arranger by Old Mutual Life Assurance Company South Africa Limited (OMLACSA), a subsidiary of Old Mutual Limited (OML), in its return to the South African debt capital markets for a R1 billion bond issuance.
Published 17 May 2024
