CRDB Bank Plc (DSE: CRDB), Tanzania’s largest banking group, has secured a USD 300 million syndicated term loan facility after attracting USD 744 million in commitments from international lenders.
The transaction represents the bank’s largest refinancing under its syndicated loan programme since its launch in 2022, with total commitments reaching nearly five times the original USD 150 million target for the 2026 facility.
Intesa Sanpaolo (Borsa Italiana: ISP) and Investec Group (LSE: INVP; JSE: INL) acted as coordinators and bookrunners, marking the fifth consecutive year the two institutions have worked with CRDB Bank on its annual syndicated financing programme.
The facility introduces a three-year tranche alongside the existing one-year and two-year tenors, extending CRDB Bank’s maturity profile and diversifying its funding base, while attracting interest from development finance institutions seeking to finance long-term growth across the region.
The syndication attracted 34 commercial banks and development finance institutions from Europe, the United Kingdom, the Gulf region and Africa, with several existing lenders increasing their commitments and new institutions joining the facility.
The proceeds will support CRDB Bank’s general corporate funding requirements, liquidity management and expansion of lending activities in Tanzania and its regional markets, including financing for clients operating along trade and investment corridors across East and Central Africa.
CRDB Bank Group CEO Dr. Abdulmajid Nsekela described the transaction as another milestone in the bank’s growth and regional expansion.
“The successful completion of this facility reinforces our standing in international funding markets and provides additional flexibility to support our clients and the economies in which we operate,” Nsekela said.
“We are grateful to Investec, Intesa Sanpaolo and our lending partners for their continued confidence and support as we expand our regional footprint and deepen our contribution to economic development across East and Central Africa,” he added.
Marc Köhne, Head of Africa Leveraged Finance at Investec, said each refinancing had built on the previous transaction by attracting broader participation, larger commitments and increased support from international lenders.
“The strong response to this year’s syndication shows both the quality of CRDB Bank’s franchise and investor belief in the opportunities across East Africa,” Köhne said.
He added that the oversubscription reflected the liquidity available for established African financial institutions and growing investor demand for exposure to regional banks with strong market positions.
Leanne Large, Head of Investec Distribution and Loan Syndication, said investor participation had increased consistently since the first transaction, with larger ticket sizes, long-standing lenders seeking higher allocations and greater demand for longer tenors.
“The introduction of the three-year tranche also demonstrates the market’s confidence in CRDB Bank’s long-term growth strategy and ability to deliver sustainable performance,” Large said.
Gustaaf Eerenstein, Syndication Director at Intesa Sanpaolo, said the transaction reflected growing international lender interest in Africa’s banking sector and the role of well-capitalised financial institutions in supporting trade, investment and economic development.
“CRDB Bank remains well positioned to capture these opportunities and contribute to sustainable growth across the region,” Eerenstein said.
“This transaction is also testament to the management and staff of CRDB Bank, year after year setting a benchmark in the African syndicated loan market,” he added.
CRDB Bank launched its syndicated loan programme with a USD 130 million facility in 2022, followed by USD 150 million facilities in both 2023 and 2024.
In 2025, the bank secured a USD 200 million syndicated facility after attracting USD 567 million in commitments, more than twice the original target.
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