The African Export-Import Bank (Afreximbank), headquartered in Cairo, Egypt, has closed a US$2 billion equivalent three-year Dual Tranche Syndicated Term Loan Facility. Concluded on March 9, 2026, and announced on March 30, the deal is the bank's largest-ever syndicated facility borrowing.
Initially launched at US$1.5 billion equivalent, the facility was substantially oversubscribed, with commitments totaling US$2.36 billion equivalent before lenders were scaled back to the final US$2 billion hold. The structure includes US$1.73 billion in Facility A (USD-denominated) and €228 million in Facility B (EUR-denominated). Proceeds will primarily refinance existing facilities while bolstering general corporate purposes.
STRONG GLOBAL DEMAND
Chandi Mwenebungu, the bank's Managing Director of Treasury and Markets and Group Treasurer, hailed it as a "clear demonstration of the global investors’ confidence in the Bank’s credit story." He added, "This, clearly, affirms the Bank’s robust and undisputed access to international markets," emphasizing the deal's scale as the largest syndicated facility in Afreximbank's history.
The syndicate comprised 31 geographically diverse lenders from Europe, the Middle East, Asia and Africa. Mashreqbank PSC, MUFG Bank, Ltd., and Standard Chartered Bank served as Joint Global Coordinators, Initial Mandated Lead Arrangers, and Bookrunners. Standard Chartered also took on roles as Documentation Agent and Facility Agent.
CNBC Africa reported that Afreximbank "raises $2 billion with its biggest-ever syndicated loan."
ABOUT AFREXIMBANK
Founded in 1993, Afreximbank's mandate is financing, promoting and expanding intra-African and extra-African trade.
RISKS
Yet, risks linger. The bank has faced scrutiny over its exposure to sovereign borrowers such as Ghana and Zambia that have restructured their debts.