Official: FCMB secures $150m loan facility

First City Monument Bank Limited has announced the signing of a $150m senior unsecured term loan facility with Commerzbank Aktiengesellschaft and Standard Chartered Bank acting as initial mandated lead arrangers and book-runners.

A statement by the bank on Wednesday stated that the agreement represented its largest fundraising to date in the commercial bank syndicated loan market.

The facility, which was pre-funded by Commerzbank Aktiengesellschaft and Standard Chartered Bank, was inaugurated at $100m and subsequently increased following a highly successful general syndication phase.

The statement stated that the proceeds of the facility would be used for general lending purposes, adding that Standard Chartered Bank would act as a facility agent.

https://www.punchng.com/business/money/fcmb-secures-150m-loan-facility/