MUFG leads $520m COVID-19 response facility for Afreximbank
MUFG and the African Export-Import Bank (Afreximbank) have closed a landmark $520 million facility - the first to be covered by Nippon Export and Investment Insurance. NEXI’s support for this facility was agreed on the basis of Afreximbank being a strategic partner, participation from Japanese investors, and the deal contributing to the UN’s Sustainable Development Goals.
MUFG was the sole Mandated Lead Arranger, Bookrunner, Agent and NEXI Coordinator on the transaction, with the documentation closing on 3 December, 2020.
Afreximbank will use the proceeds towards its Pandemic Trade Impact Mitigation Facility, which was launched in March 2020 to help African sovereigns, commercial banks and corporates to weather the impact of the crisis due to the COVID-19 pandemic. The facility will support the bank’s interventions in response to the COVID-19 pandemic and will be used to finance trade and trade related investments which contribute to the sustainable development of the socioeconomic, health, manufacturing, environmental, agri and agri-related sectors across the 51 African Member States of Afreximbank.
