GBI signed its annual syndicated borrowing facility on 20 June 2018 amounting to USD 185 million after scale-back, which was fully drawn on 26 June 2018, with a maturity of one year. The proceeds will be used for the bank's global trade finance activities. Similar to last year, the Facility was self-arranged by GBI.
In consideration of the other euro-denominated funding sources from its retail clientele in the Netherlands and in Germany, as well as in wholesale markets, GBI preferred a USD-only facility.
14 lenders from 10 countries invested in the Facility. The largest lender group by region consisted of banks from the European Union, representing more than 75% of the facility amount. Lenders from United Arab Emirates, United States of America and Canada have also participated to the Facility.
The commitment amounts of the lenders to the facility varied from USD 3 million up to USD 40 million, while the all-in yield to “Leading Participants” was 3-month Libor plus 0.90% per annum, 15 basis points lower compared to last year's facility. The proceeds of the facility will be used by GBI to support its trade and commodity finance clients.
GBI awarded the Facility Agent role to First Abu Dhabi Bank PJSC and the Documentation Agent role to Citi.
The “Leading Participants” are ICBC Europe Amsterdam Branch, First Abu Dhabi Bank and Standard Chartered while the “Senior Participants” are Banca Transilvania, Bayerische Landesbank, Citi, Raiffeisen Bank International and Denizbank AG. Banco Cooperativo Espanol, Bank of Montreal, Commerzbank, ING Bank, UniCredit Bank AG and BankInter are the “Participant” level lenders.