African Export-Import Bank US$500 Million Dual Tranche Syndicated Term Loan Facility

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Industrial and Commercial Bank of China Limited (ICBC), London Branch and Standard Chartered Bank (SCB) have successfully closed a US$500,000,000-Dual Tranche Syndicated Term Loan Facility (the “Facility”) for the African Export-Import Bank (Afreximbank or the Borrower) (www.Afreximbank.com).

ICBC and SCB acted as Coordinators, Initial Mandated Lead Arrangers and Bookrunners for the Facility, which was syndicated exclusively to Asian lenders. ICBC was the Documentation Agent and SC acted as Facility Agent. The proceeds of the Facility will be used by Afreximbank for general corporate purposes.

The Facility, initially launched at US$400 Million, was very well received in syndication, achieving substantial oversubscription from a total of 12 banks. The Facility amount was subsequently increased to US$500 Million, while lenders were still scaled back.

Welcoming the close of the Facility, Denys Denya, Afreximbank’s Senior Executive Vice President, said that the success of the deal was a reflection of the critical importance of regional investors from Asia, to Afreximbank’s fundraising programmes. He noted that the deal recognises the strong trade and investment ties between Asia and the broader African region.

Details of the Facility are:

Borrower:

African Export-Import Bank

Facility Amount: 

US$500,000,000

Purpose:

General corporate purposes

Tenor:   

Tranche A: 3 years

Tranche B: 5 years

Lenders
Global Coordinators, Initial Mandated Lead Arrangers and Bookrunners
Industrial and Commercial Bank of China Limited, London Branch
Standard Chartered

Mandated Lead Arrangers
Bank of Communications, Co. Ltd
Bank of Communications, Co. Ltd London Branch
Bank of Communications, Co. Ltd Prague Branch

China Construction Bank Corporation, Johannesburg Branch

Lead Arrangers
Bank of China Limited, London Branch
China CITIC Bank Corporation Limited London Branch

Arranger
Mega International Commercial Bank Co., Ltd., Offshore Banking Branch

Participants
Chang Hwa Commercial Bank, Ltd., London Branch
Taiwan Cooperative Bank, Offshore Banking Branch
The Shanghai Commercial&Savings Bank, Ltd.  Offshore Banking Branch

Distributed by APO Group on behalf of Afreximbank.

Media Contact:
Mr. Vincent Musumba
Manager, Communications and Events (Media Relations)
Email: press@afreximbank.com

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