Africa Finance Corporation (AFC) has closed its largest-ever debt facility, raising $1.5 billion through a syndicated loan that drew strong interest from international lenders.
The three-year facility, initially launched at $1.3 billion, was oversubscribed and will be used for general corporate purposes, the Corporation said in a statement. The loan attracted new lenders including Bank of Communications, Burgan Bank, Export Development Bank of Egypt, and Hua Nan Bank, reflecting robust investor appetite for Africa’s infrastructure growth.
“This landmark transaction reinforces AFC’s standing as a trusted institution in the global capital markets and demonstrates our ability to mobilise capital at scale for Africa,” said Banji Fehintola, Executive Board Member and Head of Financial Services at AFC. “It strengthens our role in bridging Africa’s infrastructure needs with global capital and accelerates our mission to drive rapid industrialisation.”
The syndication was led by Abu Dhabi Commercial Bank, Commerzbank, and Standard Chartered Bank as Global Coordinators and Initial Mandated Lead Arrangers. Other arrangers included Bank of China, First Abu Dhabi Bank, Mashreqbank, MUFG Bank, FirstRand Bank (via Rand Merchant Bank), State Bank of India, Standard Bank of South Africa, Société Générale, and Sumitomo Mitsui Banking Corporation. Standard Chartered acted as documentation agent, while First Abu Dhabi Bank served as facility agent.
The new facility improves pricing compared to AFC’s $1.16 billion syndicated loan closed last year and broadens its network of strategic partners. It follows AFC’s AED 937.5 million sustainability-linked loan in the United Arab Emirates, further diversifying its funding source.
