Africa Finance Company (AFC) (www.AfricaFC.org), the main infrastructure options supplier in Africa, has introduced the profitable shut of its largest ever debt facility, a US$1.16 billion syndicated mortgage, attracting new lenders from the Center East, Europe and Asia.
This landmark transaction, commemorated at an occasion in Dubai final evening, is a big milestone in AFC’s unwavering dedication to develop essential infrastructure tasks throughout the continent by enhancing its monetary flexibility and diversifying its investor base.
Testomony to AFC’s attraction in world capital markets and the Company’s pivotal function in fostering financial development and industrialisation in Africa, main worldwide monetary establishments together with First Abu Dhabi Financial institution PJSC, Mashreqbank PSC, MUFG Financial institution and Customary Chartered collectively acted as World Coordinators, with the Industrial and Industrial Financial institution of China (London Department) appearing as China Coordinator. Abu Dhabi Industrial Financial institution PJSC, Emirates NBD Financial institution PJSC, Mizuho and Sumitomo Mitsui Banking Company acted as Preliminary Mandated Lead Arrangers and Bookrunners. Moreover, Financial institution of China and Société Générale S.A acted as Preliminary Mandated Lead Arrangers.
Initially launched at US$1 billion, the three-year syndicated mortgage was upsized after being oversubscribed by 49%, underscoring world investor confidence in AFC’s monitor report, creditworthiness, and its capacity to navigate the present financial panorama marked by evolving world complexities. Proceeds from the mortgage shall be deployed to advance AFC’s mission to constantly ship quick and sustainable options to shut Africa’s infrastructure hole and unleash the continent’s potential, resulting in prosperity for all Africans.
“The worldwide mortgage market’s overwhelming curiosity in Africa’s development story is clear within the massive pool of lenders that supported this syndication, making it AFC’s largest ever,” stated AFC’s President & CEO, Samaila Zubairu. ‘’This can be a important endorsement of our dedication to make sure that infrastructure tasks help native processing and worth seize, thereby offering the a lot wanted impetus to African industrialisation, enhanced export earnings and job creation.’’
AFC’s place because the pre-eminent companion of selection between African and world stakeholders and buyers for mutually helpful outcomes displays the Company’s relentless dedication to shaping a brighter and affluent tomorrow for Africa and Africans.
Monetary establishments together with Société Générale, Financial institution Muscat and Intesa Sanpolo Financial institution Luxembourg S.A. joined the syndicate as first-time lenders, showcasing AFC’s capacity to construct a worldwide coalition of buyers assured within the Company’s robust fundamentals as one of many highest investment-grade establishments in Africa.
On the again of its A3 credit standing by Moody’s, AFC has made important strides in diversifying its funding sources lately. In 2023, the Company orchestrated a US$625 million syndicated mortgage, its second largest, with lenders predominantly from the Center East and Asia. AFC additionally secured a US$350 million long-term line of credit score from the African Improvement Financial institution (AfDB) and a EUR50 million mortgage facility settlement with the Italian improvement finance establishment, Cassa Depositi e Prestiti SpA (CDP). Each agreements had been signed on the sidelines of COP28 in Dubai. Moreover, the Company acquired a US$400 million from the Exim Financial institution of China.
Distributed by APO Group on behalf of Africa Finance Company (AFC).
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Company
Cellular : +234 1 279 9654
Electronic mail : [email protected]
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure funding throughout Africa. AFC’s strategy combines specialist business experience with a give attention to monetary and technical advisory, mission structuring, mission improvement, and danger capital to deal with Africa’s infrastructure improvement wants and drive sustainable financial development.
Seventeen years on, AFC has developed a monitor report because the companion of selection in Africa for investing and delivering on instrumental, high-quality infrastructure belongings that present important providers within the core infrastructure sectors of energy, pure sources, heavy business, transport, and telecommunications. AFC has 43 member nations and has invested US$13 billion throughout Africa since inception. www.AfricaFC.org
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