{"id":74548,"date":"2023-10-31T00:00:00","date_gmt":"2023-10-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/31\/dp-world-inks-usd-365-1-mn-facility-agreement-with-standard-bank\/"},"modified":"2023-10-31T00:00:00","modified_gmt":"2023-10-31T00:00:00","slug":"dp-world-inks-usd-365-1-mn-facility-agreement-with-standard-bank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/31\/dp-world-inks-usd-365-1-mn-facility-agreement-with-standard-bank\/","title":{"rendered":"DP World inks USD 365.1 mn facility agreement with Standard Bank"},"content":{"rendered":"

DP World has secured a USD 365.1 mn facility agreement with Standard Bank<\/strong> to boost the company\u2019s logistics and market footprint across the sub-Saharan region (SSA), according to a press release<\/a>. The multi-product, multi-jurisdiction, and multi-currency facility (MCF) will address DP World\u2019s general banking and term-funding requirements across sub saharan markets where the company and Standard Bank both operate, the statement said. <\/p>\n

What they said:<\/strong> \u201cThe 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,\u201d CEO of corporate and investment banking at Standard Bank Kenny Fihla said. <\/p>\n

Background: <\/strong>DP World Trade Finance<\/a>previously partnered<\/a> with Standard Bank<\/a> to provide trade finance solutions for African businesses, and to offer Standard Bank access to data on cargo movements. <\/p>\n","protected":false},"excerpt":{"rendered":"

The facility is split between transactional and investment banking products, including working capital, trade finance and debt financing<\/p>\n","protected":false},"author":1,"featured_media":74549,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[166],"tags":[165,17,591,32,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterprise-logistics","tag-financing","tag-trade","tag-uae","wpautop","entry"],"acf":{"mongo_id":"477b4985-502c-4c9b-be78-d7618ff90b82","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1444.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World inks USD 365.1 mn facility agreement with Standard Bank","related_issue":[74536],"teaser":"The facility is split between transactional and investment banking products, including working capital, trade finance and debt financing","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.dc6521c8-091c-46d6-aa75-bce1f4ceab59.mp3"},"yoast_head":"\nDP World inks USD 365.1 mn facility agreement with Standard Bank - 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