Standard Bank fuels Motus’ growth ambitions with £150m facility
Standard Bank has arranged the refinancing and upsizing of a multi-currency syndicated loan facility for automotive company Motus.
By Standard Bank
Standard Bank is proud to announce that it has successfully arranged the refinancing and upsizing of a multi-currency syndicated loan facility for leading automotive company Motus, to the value of £150 million.
Motus is a multi-national provider of automotive mobility solutions and vehicle products and services, with a 75-year track record of delivering steady growth and dependable value creation. The company has a leading market presence in South Africa as well as a selected international offering in the United Kingdom, Australia, Asia and Southern and East Africa. Motus is dedicated to improving people’s lives by envisioning, innovating and creating new access to leading-edge mobility solutions.
The bank acted in its capacity as Joint Initial Mandated Lead Arranger, Bookrunner and Sustainability Co-ordinator to play a leading role in the international syndication to refinance and upsize Motus’s existing multi-currency syndicated loan facility. The facility incorporates all material aspects of the Loan Market Association’s Sustainability Linked Loan Principles to allow the facility to be classified as a sustainability-linked facility once Sustainability Performance Targets are finalised by November 2024, further aligning to Motus’ ESG commitments.
Internationalisation and diversification are the key strategic growth measures to promote sustainable growth for Motus. This facility will support Motus’ ambition to increase EBITDA contribution from international operations in excess of 35%.
As Africa’s largest bank, one of the ways in which Standard Bank continues to drive inclusive and sustainable growth across the continent is by supporting its key clients with their ESG commitments. With this transaction, the bank has solidified its existing relationship with Motus, after previously partnering with the company to achieve important milestones in their business, such as its unbundling from Imperial in 2018 and arranging their first ZAR-based sustainability-linked syndicated loan funding in the South African automotive sector in 2022.
This transaction is a testament to Standard Bank’s capability in leading loan syndications for our clients in non-African markets. We are proud to have been presented with an opportunity to leverage our in-depth and up-to-date market and sustainable finance insights, execution expertise and tailored approach for a South African–headquartered corporate looking to raise sizeable hard currency debt funding.
Standard Bank Group is the largest African bank by assets with a unique footprint across 20 African countries. Headquartered in Johannesburg, South Africa, it is listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.