Dentons advises finance parties on TDB global syndicated financing

London-Dentons has advised finance parties on a US$800 million syndicated term loan facility for the Trade and Development Bank (TDB), one of Africa's leading regional multilateral development banks.

The financing supports TDB's general corporate and trade finance activities across its member states and included an accordion feature allowing total commitments to be increased to up to US$800 million from the original US$700 million facility amount.

Mizuho Bank, Ltd. and Standard Bank were the Global Coordinators, while Commerzbank Aktiengesellschaft acted as Facility Agent. Bookrunners and Initial Mandated Lead Arrangers (BIMLAs) included: Abu Dhabi Commercial Bank (ADCB); Citibank; Commerzbank Aktiengesellschaft; Emirates NBD; FirstRand Bank Limited (London Branch) acting through its Rand Merchant Bank division; Industrial and Commercial Bank of China Limited London Branch (ICBC); Mashreqbank psc; Mizuho Bank, Ltd.; MUFG Bank, Ltd.; SMBC Bank International plc; Standard Chartered Bank and Standard Bank.

Dentons advised all finance parties on the initial facility agreement and the subsequent syndication and accordion increase process, implemented through a Global Transfer Certificate and Accordion Increase Confirmation. The syndication attracted participation from a broad group of international banks and institutional investors, further diversifying the lender base.

Joe Byron Evans, partner at Dentons, said: "We are delighted to have advised the BIMLAs and the other finance parties on this significant financing for TDB. Supporting the transaction from the initial financing through the global syndication and accordion process enabled us to help deliver a successful outcome for a broad international lender group backing one of Africa's leading regional MDBs. The transaction demonstrates Dentons' experience advising lenders on complex cross-border syndicated financings."

The Dentons team was led by partners Joe Byron Evans and James Ingham, supported by associate William Anthem and paralegal Harry Taylor. The Dentons Mauritius team, led by Devalingum Gopalla, advised on local law aspects.

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