Africa Finance Corp. Raises $2 Billion Loan as Asian and European Banks Supply 70%
Updated
Updated · Bloomberg · Jun 4
Africa Finance Corp. Raises $2 Billion Loan as Asian and European Banks Supply 70%
3 articles · Updated · Bloomberg · Jun 4
Summary
$2 billion in syndicated financing gives Africa Finance Corp. fresh capital, with Asian and European banks together providing more than half of the loan.
About 35% of creditors came from each of those two regions, underscoring overseas lenders' push to tap rising demand for African infrastructure projects.
AFC said it has a pipeline of projects to fund and is also in talks to invest in a proposed East African oil refinery backed by billionaire Aliko Dangote.
The deal highlights how cross-border bank appetite is helping channel larger pools of capital into African infrastructure and energy development.