The Africa Finance Corporation (AFC) has successfully closed its largest-ever debt facility, a landmark US$1.5 billion syndicated loan. This transaction attracted a diverse consortium of new and returning lenders spanning the Middle East, Africa, Asia and Europe. The debt facility, originally launched at US$1.3 billion, is a three-year facility, proceeds of which will be used for general corporate purposes.
Details of Syndicated Loan
The Debt – facility attracted strong demand, bringing in new lenders including Bank of Communications, Burgan Bank, Export Development Bank of Egypt, and Hua Nan Bank.
The syndication was led by an exceptional group of global arrangers, including Abu Dhabi Commercial Bank PJSC, Commerzbank AG and Standard Chartered Bank as Global Coordinators and Initial Mandated Lead Arrangers and Bookrunners. Bank of China Limited (London Branch), First Abu Dhabi Bank PJSC, Mashreqbank PSC, MUFG Bank, Ltd., FirstRand Bank Limited, acting through its Rand Merchant Bank division (London Branch), State Bank of India (DIFC Branch), The Standard Bank of South Africa Limited, Société Générale, and Sumitomo Mitsui Banking Corporation (London Branch) all served as Initial Mandated Lead Arrangers and Bookrunners. Additionally, Standard Chartered Bank acted as documentation agent whilst First Abu Dhabi Bank PJSC acted as facility agent.
Speaking on the deal, Banji Fehintola, Executive Board Member and Head of Financial Services of AFC said “This landmark transaction reinforces AFC’s standing as a trusted institution in the global capital markets and demonstrates our ability to mobilise capital at scale for Africa,” said “It strengthens our role in bridging Africa’s infrastructure needs with global capital and accelerates our mission to drive rapid industrialisation and unlock the continent’s full economic potential.”
