Against very difficult market conditions, the Facility has notably achieved an oversubscription and the facility amount has been increased from the initial $100m launch amount.
In syndication, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Standard Chartered Bank joined as Co-Arrangers, while Ghana International Bank plc joined as Lead Manager and Union de Banques Arabes et Francaises-U.B.A.F. as Manager.
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Arab Banking Corp successfully closes dual tranche syndicated facility
- Bahrain: Sunday, November 02 - 2008 at 16:26
- PRESS RELEASE
Arab Banking Corporation, Commerzbank Aktiengesellschaft, HSBC Bank plc and Landesbank Baden-Württemberg, London Branch are pleased to announce that they have successfully closed syndication of a $65m and €31m Dual Tranche Syndicated Term Loan Facility for Cairo-headquartered African Export-Import Bank (Afreximbank).
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About AfreximbankAfreximbank was established in October 1993 under the auspices of the African Development Bank (AfDB) by African governments, financial institutions and private investors, as well as non-African financial institutions and private investors, with an objective of financing and promoting internal and external trade in African countries. Afreximbank is headquartered in Cairo, Egypt and has two branch offices in Harare (Zimbabwe) and Abuja (Nigeria).
Afreximbank has supranational status that mitigates country risk for lending through the bank to Africa, a status recognised and registered on 10th April 1997 in accordance with Article 102 of the Charter of the United Nations.
The Bank's subscribed capital as at 30 June 2008, stood at $412.6m, of which paid up capital amounted to US$181.1m. The Tier 1 capital ratio was 38% at the end of June 2008.
Posted by Nadeen El AjouSunday, November 02 - 2008 at 16:26 UAE local time (GMT+4)
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