Standard Bank Partners With TFG To Successfully Syndicate Its R14.5bn Funding Package
Standard Bank Partners With TFG To Successfully Syndicate Its R14.5bn Funding Package. Standard Bank is proud to announce that it successfully arranged and executed local retailer TFG’s (The Foschini Group) first syndicated funding package of R14.5bn to support the Group in delivering on their strategy.
This funding will enable TFG to meet its strategic objectives to build a stronger, more successful Group, which will create greater shared value for the business and its stakeholders. These ambitions include growing their South African presence by rolling out more stores, optimising their local manufacturing footprint to create supply chain efficiencies, and transforming into a true omnichannel retailer, all whilst creating meaningful social impact through job creation and other sustainability initiatives.
Acting as TFG’s trusted banking partner, Standard Bank worked across multiple funding products and lenders to arrange the funding structure which comprised of both working capital facilities and investment banking products. The team executed a bespoke debt package of R14.5bn in just four months, which involved a combination of a refinance and an upsize on the existing ZAR funding package. This transaction is aligned to the bank’s key strength of being invested in co-creating solutions that support the Group’s strategic ambitions, including being a meaningful partner to the retail sector.
Standard Bank is committed to ensuring that we support our clients in achieving growth that uplifts the communities they operate in, driving progressive change on the continent.
