Standard Bank has reaffirmed its long-standing partnership with Oceana Group by leading a strategic amendment and upsizing of the company’s existing term debt facilities, reinforcing its commitment to sustainability and growth in South Africa’s fishing industry.
Acting as mandated lead arranger, bookrunner, sustainability coordinator, and lender, Standard Bank restructured Oceana’s R1.6 billion (approximately $95.4 million) term debt package and provided an additional R300 million (around $17.9 million) in term funding. This enhanced structure delivers greater operational and strategic flexibility, enabling Oceana to pursue growth initiatives while advancing its sustainability objectives.
A key feature of the transaction is the incorporation of a sustainability-linked loan structure, tied to measurable social and environmental key performance indicators (KPIs). This approach underscores Oceana’s commitment to responsible business practices and aligns with global trends in sustainable finance.
Justine Streicher, Deal Maker at Standard Bank, commented:
This transaction demonstrates our ability to deliver tailored solutions that combine financial flexibility with sustainability objectives. It reflects our shared vision of creating long-term value for clients while driving positive impact.
Oceana Group, a leading player in South Africa’s fishing sector, has a strong track record of operational excellence and industry leadership. The amended debt structure positions the company to invest in initiatives that contribute to food security, economic growth, and environmental stewardship.
Through this landmark deal, Standard Bank continues to advance its purpose of driving Africa’s growth by enabling clients to achieve long-term success through innovative and sustainable financing solutions.
