Afreximbank closes historic $1.3bn bond

Afreximbank closes historic $1.3bn bond

Afreximbank closes historic $1.3bn bond   African Export-Import Bank (Afreximbank), the continent’s financial giant, on Monday closed a $1.3 billion dual tenor bond issuance, the Bank’s largest-ever transaction in the international debt capital markets. Afreximbank printed a $600 million 5-year note at a spread of T+185bps and a US$700 million 10-year note at a spread of T+220bps, after achieving a final order book of US$4.5 billion, statement from the Bank says. The Initial Pricing Thoughts (IPTS) were announced at T+220bps area and T+250bps area for the 5-year and 10-year tranches,…

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NEXIM, Afreximbank mobilise $50m support fund for SMEs

NEXIM

NEXIM, Afreximbank mobilise $50m support fund for SMEs   The Nigerian Export-Import Bank (NEXIM) has announced its partnership with African Export-Import Bank (Afreximbank) to mobilise the sum of $50 million to support Small and Medium Enterprises in Nigeria. NEXIM announced on Tuesday in Abuja that the $50m Project Preparation Fund for Nigeria was for the provision of technical assistance to bankable SMEs, especially those promoted by women and youths. The bank’s Managing Director, Abubakar Bello, disclosed this at the inauguration of Women and Youth Export Development Fund with the theme,…

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Afreximbank signs $350m facility for OCP Nigerian, others expansion

Afreximbank closes historic $1.3bn bond

Afreximbank signs $350m facility for OCP Nigerian, others expansion   The African Export-Import Bank (Afreximbank) has announced the signing of a seven-year $350 million Term Loan Facility to provide financing to OCP Group of Morocco. The bank made the announcement in a statement it issued in Cairo, Egypt on Monday, adding that the financing was to support the group’s expansion plans across Africa. Prof. Benedict Oramah, the bank’s president, said the partnership was in fulfilment of its mandate of facilitating export development in the continent and promoting intra-African trade and…

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APPLY: BoI readies fresh $1bn loan at single digit interest rate

BoI readies fresh $1bn loan

APPLY: BoI readies fresh $1bn loan at single digit interest rate   The Bank of Industry (BoI) has announced the successful conclusion of a landmark $1 billion loan syndication transaction aimed at improving the capacity of the bank to effectively support Micro, Small, Medium (MSMEs) and Large enterprises across key sectors. According to a statement from the bank, the transaction marked the third major international debt syndication deal successfully concluded by BoI within the last three years. The bank recalled that in 2018, it had raised the sum of $750m,…

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