<p>Africa Finance Corporation (&#8220;AFC&#8221; or
&#8220;the Corporation&#8221;), Africa&#8217;s leading investment-grade infrastructure
solutions provider, announces the successful closure of general syndication
which raised US$ 233 million and JPY 1 billion. ;MUFG Bank, Ltd.
(&#8220;MUFG&#8221;) and Sumitomo Mitsui Banking Corporation (&#8220;SMBC&#8221;)
acted as Mandated Lead Arranger and Bookrunner. ;MUFG will be acting as Facility Agent on the
transaction, while SMBC will be acting as Documentation Agent.</p>



<p>This is contained in a press statement by African
Media Agency, made available to OpenLife.</p>



<p>According to the statement, the Facility, which
comprises two tranches, with both tranches (US$-denominated Tranche A and
JPY-denominated Tranche B) carrying a tenor of three years each (bullet
repayment), is AFC&#8217;s first Asian-currency denominated loan facility. It is an
important step as the Corporation builds a broad coalition of investors to
diversify its funds and allow institutions from around the globe to participate
in Africa&#8217;s development.</p>



<p>The fund raise was very well received in the
Japanese loan market leading to the issue being significantly over-subscribed.
This is the largest debut Samurai Loan by an African issuer. The facility was
signed on 6 September 2019 with eight Japanese lenders committing to the
Facility. The Facility launched into general syndication on 23 July 2019 at a
launch amount of US$ 150 million.<br>
<br>
Proceeds from the Facility will be used for general corporate purposes in
accordance with AFC&#8217;s Establishment Agreement and the Charter.</p>



<p><br>
Samaila Zubairu, President and CEO of AFC, commented: &#8220;The market&#8217;s keen
interest in participating in AFC&#8217;s clearly defined African growth strategy is
demonstrated by the wide pool of lenders that supported the syndication. The
success of this loan offering is testament to AFC&#8217;s ability to diversify our
funding sources as we build a coalition of investors to support our mandate of
providing solutions to Africa&#8217;s infrastructure deficit as well as to our strong
fundamentals as an investment-grade institution.&#8221;</p>

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