Mizuho acts as Joint Coordinator, Sole Sustainability Coordinator, BMLA and Facility Agent on Standard Bank’s USD 750mn 2+1-year inaugural sustainability-linked syndicated term loan.
On December 14, 2022, Mizuho acted as Joint Coordinator, Sole Sustainability Coordinator, BMLA and Facility Agent on Standard Bank’s inaugural sustainability-linked syndicated term loan.
The facility is aligned with Standard Bank’s sustainability strategy and relates to their committed financing of renewable energy power plants and social projects in South Africa and across the continent, as well as employee diversity.
Standard Bank is focused, primarily through its sustainable finance division, on providing financial products and services that support positive ESG outcomes, including green and social loans and bonds, sustainability-linked loans and bonds, sustainable trade and working capital solutions and impact investing.
Greg Fyfe, Head of Sustainable Finance at Standard Bank Group said, “Concluding a transaction where key sustainability KPIs are embedded into the funding arrangements really brings the Group’s purpose to life: Africa is our home, we drive her growth. These KPIs will directly impact growth in the markets in which we operate through addressing energy poverty, reducing reliance on fossil fuel based energy, as well as addressing the key social challenges we face across the continent, and ensuring diversity in the workplace.”
Kenny Fihla, Chief Executive for Corporate and Investment Banking at Standard Bank Group said, “The transaction is fully aligned with the Group’s societal, economic and environmental (SEE) impact strategy and will result in positive impact across a number of the identified SEE impact areas – including climate change and sustainable finance. It also supports the Group’s sustainable finance targets as published in our Climate Policy and creates greater focus and drive to achieve the ambitious Group targets of mobilising more than R250 billion in sustainable finance by 2026.”
Stewart Wakeman, MD & Head of Origination - Africa, Mizuho said, "Mizuho is delighted to have been appointed sole sustainability coordinator for Standard Bank's debut sustainability-linked loan. We are proud to have supported them in undertaking the first sustainability-linked loan issued by a South African Bank addressing both climate change, diversity and inclusion, and containing ESG commitments that certainly represent a 'best in class' structure. Supporting clients' climate transition path and contributing to a sustainable society is a key pillar in both Standard Bank and Mizuho's business strategies."