AFC issues $700m 5-year Reg S Eurobond

Africa Finance Corporation has announced the issuance of a $700 million Reg S Eurobond, maturing 16 June 2025.

The issuance - which carries a coupon of 3.125% - was arranged by BofA Securities, J.P. Morgan and MUFG as Global Co-ordinators and Joint Bookrunners; together with First Abu Dhabi Bank and Goldman Sachs International as Joint Bookrunners.

The distribution breakdown of the order book was Asia (11%), Middle East and Africa (30%), off-shore US (4%), the United Kingdom (18%), Switzerland (16%), Germany (13%) and other Europe regions (8%) all partaking. Proceeds shall be used for general corporate purposes.