DP World has secured a USD 365.1 mn facility agreement with Standard Bank to boost the company’s logistics and market footprint across the sub-Saharan region (SSA), according to a press release. The multi-product, multi-jurisdiction, and multi-currency facility (MCF) will address DP World’s general banking and term-funding requirements across sub saharan markets where the company and Standard Bank both operate, the statement said.

What they said: “The MCF facility is split between our transactional banking and investment banking products, with USD 150 mn allocated to a general banking MCF, which will consist of working capital, trade finance, documentary credit and other general banking solutions, USD 215.1 mn allocated to term debt financing,” CEO of corporate and investment banking at Standard Bank Kenny Fihla said.

Background: DP World Trade Financepreviously partnered with Standard Bank to provide trade finance solutions for African businesses, and to offer Standard Bank access to data on cargo movements.

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