Africa Finance Corporation (AFC), a prominent infrastructure solutions provider in Africa, has announced the successful conclusion of its largest-ever debt facility—a syndicated loan worth $1.16 billion.
Celebrated in Dubai, this milestone marks a significant moment for AFC as it reaffirms its dedication to advancing crucial infrastructure projects across Africa, diversifying its investor base, and bolstering financial flexibility.
Initially launched at $1 billion, the syndicated loan witnessed an impressive oversubscription of 49%, demonstrating robust investor confidence in AFC’s track record, creditworthiness, and ability to navigate the changing global economic landscape.
The additional capital will empower AFC to expedite its mission of providing sustainable solutions to address Africa’s infrastructure deficit and unlock the continent’s immense potential for prosperity.
Key international financial institutions such as First Abu Dhabi Bank PJSC, Mashreqbank PSC, MUFG Bank, and Standard Chartered played pivotal roles as Global Coordinators, while the Industrial and Commercial Bank of China (London Branch) served as China Coordinator.
Additionally, leading institutions like Abu Dhabi Commercial Bank PJSC, Emirates NBD Bank PJSC, Mizuho, and Sumitomo Mitsui Banking Corporation acted as Initial Mandated Lead Arrangers and Bookrunners.
Samaila Zubairu, President and Chief Executive Officer (CEO) of AFC, lauded the overwhelming interest from the global loan market as evidence of Africa’s growth potential and AFC’s crucial role in driving economic growth and industrialization across the continent.
He reiterated AFC’s commitment to leveraging infrastructure projects to stimulate local processing, boost export earnings, and foster job creation, thereby advancing African industrialization.
The syndication also welcomed first-time lenders including Société Générale, Bank Muscat, and Intesa Sanpolo Bank Luxembourg SA, highlighting AFC’s ability to attract a diverse coalition of investors who recognize the Corporation’s strong fundamentals and investment-grade status in Africa.
