AFC secures $150m Samurai Term Loan Facility

Africa Finance Corporation (AFC), Africa's investment grade infrastructure solutions provider, has announced the close of general syndication of a minimum $150m dual currency Samurai Term Loan Facility with MUFG Bank and Sumitomo Mitsui Banking Corporation (SMBC), acting as Mandated Lead Arranger and Bookrunner.

The Facility launched into general syndication on July 23, 2019.

The Facility, which comprises two tranches, with both tranches (USD denominated Tranche A and JPY denominated Tranche B) carrying a tenor of three years each (bullet repayment), is AFC's first Asian-currency denominated loan facility.

It is an important step as the Corporation builds a broad coalition of investors to diversify its funds and allow institutions from around the globe to participate in Africa's development.

The deal was very well received in the Japanese loan market leading to a significant over-subscription.

The Facility will be upsized accordingly.

Proceeds from the Facility will be used for general corporate purposes in accordance with AFC's Establishment Agreement and the Charter.

Samaila Zubairu, President and CEO of AFC, said: "Since joining AFC, one of my main goals has been to build a broad coalition of international investors. Securing this loan facility brings us one step closer.”

“The Japanese loan market's overwhelming interest in the Facility, leading to its oversubscription, allows us to diversify our funding sources and supports our mandate of providing transformational solutions to Africa's infrastructure deficit.

"Asia is key to Africa's growth. Japan, in particular, is an important player and its guiding principles - quality growth, which focuses on inclusiveness, sustainability and resilience as well as human security, which focuses on capacity building - are completely aligned with AFC's mission and vision."

 
Disclaimer
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.
Top