• About
  • Advertise
  • Privacy & Policy
  • Contact
Thinkers Magazine
Advertisement
  • News
  • Politics
  • Business
  • Exclusives
  • Features
  • Health
  • Labour
  • Entertainment
  • Foreign
  • Sport
No Result
View All Result
  • News
  • Politics
  • Business
  • Exclusives
  • Features
  • Health
  • Labour
  • Entertainment
  • Foreign
  • Sport
No Result
View All Result
Thinkers Magazine
No Result
View All Result
Home Business

AFC expands Asia footprint with US$389 million Samurai loan facility

by Thinkers
October 25, 2022
in Business
0
AFC expands Asia footprint with US$389 million Samurai loan facility
0
SHARES
Share on FacebookShare on Twitter

Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has successfuly closed a US$389 million dual currency Samurai term loan facility, split into US$382 million and JPY ¥1 billion.
The transaction marks AFC’s second foray into the Japanese capital markets, following an inaugural Samurai loan facility in 2019, when the Corporation raised US$233 million and JPY1 billion.
The three-year tenor facility is an important step as AFC builds a coalition of investors to diversify its funding sources, including more institutional capital from Asia and existing partners in Europe and North America. Japanese investors showed strong interest in the issuance with Mizuho Bank Ltd, MUFG Bank Ltd. (“MUFG”), Sumitomo Mitsui Banking Corporation (“SMBC”) acting as Mandated Lead Arrangers and Bookrunners. Other participating financial institutions include Bank of Yokohama, Norinchukin Bank, Shiga Bank and Gunma Bank. Proceeds from this facility will be used for general corporate purposes.
AFC has a strong record in the Asian capital markets, issuing a US$300 million loan facility through the Export-Import Bank of China in 2018 and a US$140 million Kimchi term loan facility in 2019. Asia is key to Africa’s next phase of growth and Japan, in particular, is an important player as the country has shifted the focus of its engagement with Africa in recent years from giving aid to increasing investment.
The government of Japan, shifting its focus from aid to investment, recently pledged $30 billion over the next three years for the resilient and sustainable development of the African continent.
The announcement was made during the recently concluded eighth Tokyo International Conference on African Development (TICAD), signalling a boom in Africa-Asia economic relations.
Banji Fehintola, Senior Director and Treasurer of AFC, said: “Asia is a very important region for us and the participation of Asian investors in our bond issuances has grown significantly over time.
“The success of this loan offering is testament to AFC’s ability to diversify its funding sources in mobilising global capital to build critical infrastructure in Africa and transform lives.”

Previous Post

AfDB, partners launch $520 million special agro-industrial processing zones to transform Nigerian agriculture

Next Post

Mastercard, Cellulant to empower millions of consumers across Africa

Thinkers

Thinkers

Next Post
Mastercard, Cellulant to empower millions of consumers across Africa

Mastercard, Cellulant to empower millions of consumers across Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

10th NASS: Tinubu meets Abbas, Kalu in Aso Rock

BREAKING: Tinubu appoints Gbajabiamila Chief of Staff, Hassan Hadejia DCOS, George Akume SGF

June 2, 2023
10th NASS: Tinubu meets Abbas, Kalu in Aso Rock

10th NASS: Tinubu meets Abbas, Kalu in Aso Rock

June 1, 2023
U.S. assures NDLEA of more support, collaboration on fight against illicit drugs

U.S. assures NDLEA of more support, collaboration on fight against illicit drugs

June 1, 2023
Governors forums’ leadership: Tinubu congratulates AbdulRazaq, Uzodinma, others

Governors forums’ leadership: Tinubu congratulates AbdulRazaq, Uzodinma, others

June 1, 2023

Follow Us

Browse by Category

  • Beauty Tips
  • Business
  • Entertainment
  • Exclusives
  • Features
  • Foreign
  • Health
  • Labour
  • Magazine PDF
  • Media
  • News
  • Opinion
  • Personality
  • Politics
  • Royalty
  • Security Watch
  • Sport
  • Uncategorized
  • Weddings

Recent News

10th NASS: Tinubu meets Abbas, Kalu in Aso Rock

BREAKING: Tinubu appoints Gbajabiamila Chief of Staff, Hassan Hadejia DCOS, George Akume SGF

June 2, 2023
10th NASS: Tinubu meets Abbas, Kalu in Aso Rock

10th NASS: Tinubu meets Abbas, Kalu in Aso Rock

June 1, 2023
  • News
  • Politics
  • Business
  • Exclusives
  • Features
  • Health
  • Labour
  • Entertainment
  • Foreign
  • Sport

© 2021 Thinkers Magazine

No Result
View All Result
  • News
  • Politics
  • Business
  • Exclusives
  • Features
  • Health
  • Labour
  • Entertainment
  • Foreign
  • Sport

© 2021 Thinkers Magazine