AFC launches inaugural loan

AFC launches inaugural loan

Published: November 4, 2013

African DFI to raise US$250mn in transaction; holds investor presentations this week.

Africa Finance Corporation (AFC), a development-finance institution, is preparing to tap the syndicated loan market for the first time.

The two-year, US$250mn loan was launched in the market on Friday November 1 and the corporation will hold several investor presentations this week in Johannesburg, Dubai and London.

The proceeds will be used for general corporate purposes.

Citi, Rand Merchant Bank, Standard Bank and Standard Chartered Bank are initial mandated lead arrangers and bookrunners.