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[2008-08-22] StanChart tops the loans ladder with telecoms deal Standard Chartered is emerging as the new star of Kenya’s mega-loans deals, with the capture of the country’s largest ever loan in a double win across the oil and telecommunications sectors.
Among the bank’s big deals are the Sh19.8 billion loan to finance the planned upgrading of the Mombasa-based oil refinery, compared with the previous record of Sh12 billion for Safaricom three years ago.
Standard Chartered is also leading the transaction team that is structuring a Sh6.6 billion deal to finance the TEAMs— the government-sponsored undersea fibre optic cable.
These two deals together have secured Standard Chartered the pole position in investment banking, the most profitable end of the country’s banking market — ahead of the traditional leaders such as Barclays and Stanbic Source: Business Daily Africa