Online Reporter
Business Reporter
THE African Export-Import Bank (Afreximbank) has successfully concluded a landmark US$2 billion dual-tranche syndicated term loan facility, marking the largest-ever borrowing of its kind in the institution’s history.
The three-year facility, which closed on 9 March 2026, met with exceptional demand from the international financial community. Originally launched with a target of US$1,5 billion, the deal was significantly oversubscribed, drawing total commitments of US$2,36 billion. Due to this high level of interest, Afreximbank scaled back lender participations to settle at the final US$2 billion hold.
The transaction was structured to include two distinct tranches: a US$1,73 billion portion, known as Facility A, and a €228 million portion, designated as Facility B. Management has confirmed that the proceeds will be utilised to refinance the bank’s existing debt obligations and to fund general corporate activities.
Chandi Mwenebungu, Afreximbank’s Managing Director of Treasury and Markets and Group Treasurer, described the record-breaking transaction as a definitive vote of confidence from the global market. He noted that the scale of the facility affirms the bank’s robust and undisputed access to international capital, reflecting a strong belief in its long-term credit narrative despite shifting global economic conditions.
The syndicate comprised 31 lenders representing a diverse geographic spread across Europe, the Middle East, Asia, and Africa. This broad participation underscores the bank’s ability to mobilise capital from various global corridors to support its mandate of financing and promoting intra-African trade.
The facility was coordinated by a consortium of major financial institutions. Mashreqbank PSC, MUFG Bank, Ltd., and Standard Chartered Bank served as Joint Global Coordinators, Initial Mandated Lead Arrangers, and Bookrunners. Furthermore, Standard Chartered Bank acted as both the Documentation Agent and the Facility Agent for the transaction.
