Afreximbank raises $150m in first-ever Samurai syndicated loan facility
The African Export-Import Bank (Afreximbank) has announced the successful completion of its first ever Samurai Syndicated Term Loan Facility.
Through the facility, the bank was able to raise the equivalent of US$150 million, comprised of two tranches of (Japanese Yen) JPY 6.2 bnand US$100m.
In a statement made available to Daily Times Nigeria by Afreximbank, Bank of Tokyo Mitsubishi UFJ (MUFG) acted as sole Coordinator, Bookrunner, facility and documentation agent Bank for the facility while Bank of Taiwan, Gunma Bank, Shikoku Bank and Mitsubishi UFJ Trust and Banking all joined the Facility in the primary phase.
The facility, according to the report, had initially been for the equivalent of US$100m, with the two tranches at JPY4 billion and USD70 million, but had incorporated an accordion feature in order to accommodate further regional investors.
The bank in the statement disclosed that, the new totals value raised followed activation of the accordion feature , which saw participation rise to seven banks. Two new banks, Bank of Yokohama and Joyo Bank, acceded to the accordion, while two banks, which participated in the initial stage, increased their participations.
At the ceremonial signing held in Tokyo, on 2 November, Denys Denya, Afreximbank Executive Vice President for Finance, Administration and Banking Services, welcomed the high participation in the facility as a reflection of the willingness of those institutions to support the cause of development in Africa.
He also briefed the Japanese lenders about Afreximbank’s performance in 2017 and the Bank’s strategy as well as to update them on its 2017 general fundraising plans.
Mr. Denya announced that the proceeds of the Facility would be used towards general corporate and trade related purposes.
The all-pricing for the Facility is 1.8 per cent per annum for the USD tranche and 0.80 per cent for the JPY tranche.
Accompanying Mr. Denya to the signing ceremony from Afreximbank wereChandiMwenebungu, Treasurer; YomnaRashed, Manager, Treasury; and Dr. Enga Innocent Kameni, Manager, Legal Services. Eighteen banks attended the signing ceremony
