Africa Finance Corporation has wrapped up a dual-currency Samurai term loan worth the equivalent of US$524 million, bolstering its war chest for continent-wide infrastructure financing.
The three-year syndicated facility, split between US$505 million and JPY 3 billion, drew far more interest than the corporation initially sought. It adds to a decade’s worth of AFC’s successful fundraising in Asian markets, now totalling more than US$1.3 billion from Chinese, Indian and Korean lenders.
According to Executive Board Member and Head of Financial Services, Banji Fehintola, the deal widens AFC’s global investor base while strengthening its ability to marshal capital for Africa’s persistent infrastructure shortfall. The funds will support general corporate operations.
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The new facility builds on AFC’s earlier forays into Japan’s capital markets: its first Samurai loan in 2019, its 2023 guarantee of Egypt’s JPY75 billion Samurai bond, and the A+ (Stable) long-term issuer rating granted this year by the Japan Credit Rating Agency. AFC’s previous Samurai loan, a US$419 million-equivalent package arranged in 2022, matured in October and was settled in full.
