African Export-Import Bank (Afreximbank) on 21 December 2021 successfully concluded a new three-year Syndicated Term Loan Facility, raising US$1.2 billion. Proceeds from the facility will be used to refinance existing facilities, general corporate purposes and for the payment of fees and costs associated with the Facility.
Launched on 25 November 2021 to a limited group of relationship banks at a launch amount of US$600 million equivalent, the Facility was more than 2.3x oversubscribed allowing for Afreximbank to subsequently upsize the amount to US$1.2 billion while also scaling back the banks on the deal.
This successful transaction, launched against the drop of the volatility that resulted from the announcement of the Omicron variant of COVID-19, is a testament to the strength of Afreximbank’s investor relationships and the high regard and confidence that the market has for the Bank’s financial strength and its importance to the continent.
First Abu Dhabi Bank PJSC, Rand Merchant Bank, a division of FirstRand Bank Limited (London Branch) and Standard Chartered Bank acted as joint Global Coordinators, Mandated Lead Arrangers and Bookrunners on the Facility. Standard Chartered Bank acted as Documentation Agent and is the Facility Agent for the transaction.
Syndicated Facility Lenders:
|First Abu Dhabi Bank PJSC||Coordinator, Mandated Lead Arranger and Bookrunner|
|Rand Merchant Bank||Coordinator, Mandated Lead Arranger and Bookrunner|
|Standard Chartered Bank||Coordinator, Mandated Lead Arranger and Bookrunner|
|Absa Bank Limited||Mandated Lead Arranger and Bookrunner|
|Abu Dhabi Commercial Bank PJSC||Mandated Lead Arranger and Bookrunner|
|Arab Banking Corporation||Mandated Lead Arranger and Bookrunner|
|Bank Muscat SAOG||Mandated Lead Arranger and Bookrunner|
|Citibank||Mandated Lead Arranger and Bookrunner|
|Commerzbank Aktiengesellschaft Filial Luxemburg||Mandated Lead Arranger and Bookrunner|
|Credit Europe Bank||Mandated Lead Arranger and Bookrunner|
|Emirates NBD Bank PJSC||Mandated Lead Arranger and Bookrunner|
|Gulf Bank KSCP||Mandated Lead Arranger and Bookrunner|
|HSBC Bank PLC||Mandated Lead Arranger and Bookrunner|
|Industrial and Commercial Bank of China Limited||Mandated Lead Arranger and Bookrunner|
|KDB Bank Europe Limited||Mandated Lead Arranger and Bookrunner|
|Mashreqbank PSC||Mandated Lead Arranger and Bookrunner|
|Mizuho Bank Ltd||Mandated Lead Arranger and Bookrunner|
|MUFG Bank Ltd||Mandated Lead Arranger and Bookrunner|
|SMBC Bank International PLC||Mandated Lead Arranger and Bookrunner|
|State Bank of India||Mandated Lead Arranger and Bookrunner|
|The Korea Development Bank||Mandated Lead Arranger and Bookrunner|
|The Standard Bank of South Africa Limited||Mandated Lead Arranger and Bookrunner|
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. The Bank has a rich history of intervening in support of African countries in times of crisis. Through the Pandemic Trade Impact Mitigation Facility (PATIMFA) launched in April 2020, Afreximbank has disbursed more than US$6.5 billion in 2020 to help member countries manage the adverse impact of financial, economic, and health shocks caused by the COVID-19 pandemic. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has completed the development of a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2020, the Bank’s total assets and guarantees stood at US$21.5 billion, and its shareholder funds amounted to US$3.4 billion. Afreximbank disbursed more than US$42 billion between 2016 and 2020. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com.
African-Export Import Bank
Mr. Tito Alai
Director Communications & Events
Tel: +254 750 880000
First Abu Dhabi Bank
Acting Head of Global Corporate Finance
Tel: +971 (0) 2305 4108
Mob: +971 (0) 50 818 1698
Rand Merchant Bank
Co-Head of Loan Syndications
Tel: +44 207 939 1755
Mob: +44 779 870 2347
Standard Chartered Bank
Managing Director, Head – Loan Syndicate and Distribution Europe, Africa, Middle East and Americas
Tel: +44 207 885 7349