Chronicle Editor
Oliver Kazunga, Senior Business Reporter
THE AfreximBank has concluded a new three-year US$1,2 billion syndicated term loan facility whose proceeds would largely be used to refinance existing facilities.
In a statement, AfreximBank said the facility, which was oversubscribed, was launched to a limited group of relationship banks in November last year.
“AfreximBank on 21 December 2021 successfully concluded a new three-year syndicated term loan facility, raising US$1,2 billion,” said the bank.
“Proceeds from the facility will be used to refinance existing facilities, general corporate purposes and for the payment of fees and costs associated with the facility.
“Launched on 25 November 2021 to a limited group of relationship banks at a launch amount of US$600 million equivalent, the facility was more than 2,3 times oversubscribed allowing for AfreximBank to subsequently upsize the amount to US$1,2 billion while also scaling back the banks on the deal,” said the regional financier.
-@KazungaOliver
Online Reporter