Nedbank, Nampak sign multi-million loan agreement
Nedbank Corporate Banking has announced the successful conclusion of a funding agreement of R1 billion to Nampak in the form of a five-year revolving credit facility. The facility will be used to fund capital expenditure and provide Nampak with additional financial flexibility for their short and long term requirements in support of their growth strategy.
Says Jacques Mol, group manager of Corporate Finance and Treasury at Nampak: "When we first announced our growth aspirations we were not only looking for funding, but a partner who understood what this strategy entails and provide us with a solution that would help us realise our goals holistically."
Graeme Auret, managing executive of Nedbank Corporate Banking, says that the nature of corporate banking is fundamentally based on the skills of its people and flexibility of solutions provided in terms of finance requirements. "Our capacity to structure deals according to the requirements of an organisation irrespective of scale or complexity, talks to our level of understanding of our clients and the lengths we go to understand the needs of potential clients. We are pleased with the opportunity to play a role in the growth of our client and also what this expansion means for the domestic economy."
