[Egypt] Afreximbank Closes JPY4billion and $70m Samurai Syndicated Term Loan Facility
The African Export-Import Bank has successfully signed a JPY11 billion equivalent Samurai Syndicated Term Loan Facility comprising two tranches of JPY4 billion and USD70 million. MUFG acted as sole Coordinator, Bookrunner, Facility and Documentation Agent Bank. Bank of Taiwan, Gunma Bank, Shikoku Bank and Mitsubishi UFJ Trust and Banking all joined the Facility in the primary phase. The Facility has an additional accordion feature in order to accommodate further regional investors.
Proceeds of the Facility will be used towards general corporate and trade related purposes. The all-pricing for the Facility is 1.8% per annum for the USD tranche and 0.80% for the JPY tranche. The success of this Facility represents an important milestone for African borrowers and provides a gateway for other African borrowers seeking fresh avenues of untapped Asian liquidity.