Chronicle Editor
Business Reporter
THE African Export-Import Bank (AfreximBank) says it has successfully closed a US$1.3 billion dual tenor bond issuance, the bank’s largest-ever transaction in the international debt capital markets.
This a major milestone for AfreximBank and is the bank’s largest transaction in the debt capital markets to date. The development fulfils a number of key objectives of the bank’s liability management strategy, which include diversification of the liability book by geography, investor type and tenor as well as reducing cost of funds, said Afreximbank in a latest media update.
The closing of the transaction is evidence of the bank’s growing capability to harness competitively priced long dated resources into Africa and fund investments that will have a positive impact on trade in the continent, said Mr Denys Denya, Afreximbank’s executive vice president responsible for treasury soon after the closing last week.
“This landmark deal confirms continuing investor deep confidence in AfreximBank’s mission and credit story, and achieving competitive pricing for both tranches is testament to the strength of support from investors from all key financial markets across the globe,” he said.
Online Reporter