The African Export-Import Bank (Afreximbank) has secured $2 billion through a three-year dual tranche syndicated term loan facility, marking the largest syndicated borrowing in the bank’s history.
The development was disclosed in a press statement dated March 30, 2026, and published on Afreximbank’s official website, following the conclusion of the transaction earlier on March 9, 2026.
The deal is described as the bank’s largest-ever syndicated facility, meaning it is the biggest loan arrangement Afreximbank has obtained from a group of international lenders pooling funds together, rather than a single creditor providing the financing.
What they are saying
According to Chandi Mwenebungu, Managing Director, Treasury and Markets, and Group Treasurer, the milestone reflects sustained trust from international markets.
- “This transaction is the largest ever syndicated facility borrowing by Afreximbank. It is a clear demonstration of the global investors’ confidence in the Bank’s credit story. This, clearly, affirms the Bank’s robust and undisputed access to international markets,” he said.
Originally launched with a target of about $1.5 billion, the facility attracted significantly higher interest from lenders, with commitments rising well above the initial ask. However, the bank eventually capped the deal at $2 billion, scaling back excess subscriptions.
More insights
The financing comprises two tranches, $1.73 billion under a US dollar facility and €228 million under a euro-denominated tranche, bringing the total to $2 billion equivalent.
Proceeds from the loan will be used to refinance existing obligations and support general corporate activities.
A total of 31 lenders from Europe, the Middle East, Asia, and Africa participated in the deal, highlighting broad international backing. Mashreqbank PSC, MUFG Bank, and Standard Chartered Bank acted as joint global coordinators and bookrunners, with Standard Chartered also serving as facility and documentation agent.
What you should know
Afreximbank is a multilateral financial institution established to promote and finance intra- and extra-African trade. Its central role is to support economic growth, trade development, and industrialisation across the continent.
- The latest fundraising comes months after the bank ended its credit rating relationship with Fitch Ratings following a downgrade in 2025.
- The fallout stemmed from Fitch’s June 2025 decision to downgrade Afreximbank’s long-term credit rating from BBB to BBB-, with a negative outlook, a move the bank strongly contested.
In June last year, it was reported that Yemi Kale, Group Chief Economist and Managing Director of Research and Trade Intelligence at Afreximbank, said that flawed and externally biased credit rating models are increasing the cost of borrowing for African countries, despite their improving macroeconomic outlook.
