The African Export-Import Bank (Afreximbank) has executed a record USD 1.5 billion bond issuance, the largest in the bank’s history. This transaction marks the bank’s return to the USD public bond market, drawing interest from an international pool of investors.
The bond was issued in two tranches: a USD 750 million tranche set to mature in January 2032, and a second USD 750 million tranche scheduled to mature in July 2036. Afreximbank reported interest in the bond issuance from investors across Europe, Asia, and the US.
It was two times oversubscribed, with evenly split demand across the two tranches.
The notes were admitted to trading on the Global Exchange Market and listed on the Official List of Euronext Dublin. Afreximbank used HSBC Bank as its global co-ordinator, with Standard Bank of South Africa, Standard Chartered Bank, MUFG Securities EMEA, and Commerzbank Aktiengesellschaft acting as joint lead managers and joint bookrunners.
The group of advisors were guided through the legal aspects of the transaction by Dentons, with a team led by capital markets partner Nick Hayday and US securities partner Cameron Half, both based in the firm’s London office.
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Afreximbank managing director Chandi Mwenebungu said in a statement: “For us, this is a clear sign that the market continues to believe in Afreximbank’s work and in Africa’s economic prospects. Our role remains to connect capital to the opportunities that will drive trade, industrialisation and growth across the continent.”
Half added: “This successful bond issuance will enhance Afreximbank’s capacity to support businesses across Africa and advance its mission of promoting trade across the continent.”
In terms of previous transactions, the bank previously issued Samurai bonds in 2024 and 2025, as well as a Panda bond issuance last year. It marked the first USD public bond issuance by the bank since July 2021.
In other developments, Dentons launched an office in the Democratic Republic of Congo (DRC) Copperbelt city of Kolwezi in June, the legal giant’s second location in the country following the launch of its Brazzaville office in November last year.