Afreximbank raises $150m in first Samurai Syndicated Term Loan facility

The African Export-Import Bank (Afreximbank) has completed its first Samurai Syndicated Term Loan Facility, raising US$150 million, from two tranches of JPY 6.2 billion and US$100 million.

Bank of Tokyo Mitsubishi UFJ (MUFG) acted as sole coordinator, bookrunner, facility and documentation agent bank, while Bank of Taiwan, Gunma Bank, Shikoku Bank and Mitsubishi UFJ Trust and Banking all joined in the raising of the loan facility in the primary phase.

The facility had initially been for the equivalent of US$100 million, with the two tranches at JPY 4 billion and USD70 million.At the ceremonial signing held in Tokyo, Afreximbank Executive Vice President for Finance, Administration and Banking Services, Denys Denya, welcomed the high participation in the facility, a reflection of the willingness of the participating institutions to support the cause of development in Africa.