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Home Business News

Afrexim Bank sources $150 million loan from Japanese banks

Onome Ohwovoriole by Onome Ohwovoriole
November 19, 2017
in Business News, Company News
Benedict oramah

Benedict Oramah President Afrexim Bank

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The African Export-Import Bank (Afreximbank) has completed its first Samurai Syndicated Term Loan Facility, raising US$150 million, from two tranches of JPY 6.2 billion and US$100 million. Bank of Tokyo Mitsubishi UFJ (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 in the raising of the loan facility in the primary phase.

A book runner is the lead manager when a group of companies (a syndicate) issues a loan or a company raises equity. The book runner takes up the largest portion and assigns part of the issue to other parties.

What is a Samorai loan ?

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A Samurai loan is one denominated in Japanese currency or other currencies lent by Japanese financial institutions.

How both parties benefit

Interest rates in Japan are currently negative, so this gives the banks opportunity to carry out lending more profitably. Afrexim, on the other hand benefits from access to loans at ultra low interest rates, which it in turn can lend to businesses across the continent.

African Export-Import Bank (Afrexim) Bank was established in October 1993, by African governments, private and institutional investors as well as non African investors for the purpose of financing and promoting both intra African trade and extra African trade. The bank has its headquarters in Cairo (Egypt), and branches in Harare, Abidjan, Afrexim has an issued capital of $5 billion.


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Tags: AfreximBank
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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