Infrastructure solutions provider Africa Finance Corporation (AFC), has closed a US$1.5bn syndicated loan, its largest-ever debt facility.
- •Originally launched at US$1.3 billion, the three-year facility, proceeds of which will be used for general corporate purposes, attracted strong demand, bringing in new lenders.
- •AFC secured more favourable pricing compared to its US$1.16 billion Syndicated Term Loan Facility which closed last year.
- • The continental lender has 46 member countries and has invested over US$15 billion in 36 African countries since its inception.
“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 Banji Fehintola, Executive Board Member and Head of Financial Services of AFC.
Among the syndications arrangers were Rand Merchant Bank, State Bank of India, and Standard Bank.