Rand Merchant Bank (RMB) has arranged a $100 Million syndicated loan facility to Mohammed Enterprises Tanzania Limited (MeTL).
The loan will facilitate MeTL’s trade in commodities into and out of Africa.
The loan is syndicated together with other banking partners, China Construction Bank, Citibank and Nedbank and is one of the largest loan facilities provided for the trading of commodities in East Africa.
Speaking at the signing ceremony in Johannesburg South Africa, RMB’s Head of Trade and Working Capital, Gregory Havermahl said: “the loan highlights RMB’s presence on the African continent as an indigenous African bank partnering with an indigenous African company and demonstrates RMB’s capacity to originate, arrange and structure commodity trading deals of this nature and magnitude, as well as getting suitable funding partners on board”.
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Rand Merchant Bank (RMB) has arranged a $100 Million syndicated loan facility to Mohammed Enterprises Tanzania Limited (MeTL). The loan will facilitate MeTL’s trade in commodities into and out of Africa. The loan is syndicated together with other banking partners,...read more