Afreximbank: Largest ever loan

The Cairo-based African Export-Import Bank (Afreximbank) said on 8 July that it had closed general syndication of its largest-ever term loan facility, raising around $900m from the two-year, dual-tranche facility. The loan attracted total commitments in excess of $1bn; the final facility was set at $458m and E406.5m ($441m), after a scale-back by the initial mandated lead arrangers and book-runners: Arab Banking Corporation, Bank of Tokyo-Mitsubishi, Commerzbank Luxemburg (sole co-ordinating bank and documentation agent), Credit Europe Bank, Emirates NBD Capital, Rand Merchant Bank, HSBC Bank, ICBC (London), Investec Bank, Korea Development Bank, Mizuho Bank, National Bank of Abu Dhabi, Standard Bank (Isle of Man branch) and Standard Chartered Bank (facility agent) as initial mandated lead arrangers.