Africa Finance Corporation Achieves Record $1.16 Billion Syndicated Loan Milestone

Africa Finance Corporation (AFC), a prominent provider of infrastructure solutions across the continent, has declared the successful conclusion of its largest-ever debt facility—a syndicated loan totaling US$1.16 billion.

This significant achievement, marked during an event in Dubai, underscores AFC's dedication to advancing crucial infrastructure ventures throughout Africa, broadening its investor base, and bolstering financial adaptability.

Initially launched at US$1 billion, the syndicated loan witnessed an impressive oversubscription of 49%, showcasing robust investor confidence in AFC's established track record, creditworthiness, and adeptness in navigating global economic shifts.

The augmented capital will empower AFC to expedite its mission of delivering sustainable solutions to bridge Africa's infrastructure deficit and unleash the continent's immense potential for economic prosperity.

Leading international financial institutions, including First Abu Dhabi Bank PJSC, Mashreqbank PSC, MUFG Bank, and Standard Chartered, assumed pivotal roles as Global Coordinators, with the Industrial and Commercial Bank of China (London Branch) serving as China Coordinator.

Furthermore, notable institutions such as Abu Dhabi Commercial Bank PJSC, Emirates NBD Bank PJSC, Mizuho, and Sumitomo Mitsui Banking Corporation participated as Initial Mandated Lead Arrangers and Bookrunners.

Samaila Zubairu, President & CEO of AFC, commended the overwhelming interest from the global loan market as a validation of Africa's growth prospects and AFC's pivotal position in driving economic expansion and industrialization across the continent.

He underscored AFC's commitment to leveraging infrastructure projects to stimulate local processing, enhance export earnings, and facilitate job creation, thereby propelling African industrialization forward.

Source: Innovation Village