The National Treasury has decided to embark on its foreign funding for 2006/07. In 2005/06, Requests for Proposals (RFPs) were sent out, to which 19 banks responded. These proposals were evaluated and a shortlist compiled. The short-listed banks were then requested to present their proposals to a panel from National Treasury, and the successful banks were selected.
The National Treasury shelved its foreign funding programme for the 2005/06 fiscal year. Consequently, it was decided not to re-send RFPs and appoint the lead managers on the basis of the 2005/06 submissions and process.
The National Treasury has awarded Standard Bank and Deutsche Bank the mandate as joint Lead Managers for the 2006/07 foreign funding in Euros. Syndication will be finalised closer to the road show.