Cairo-Based African Export-Import Bank Asks Proposals for Dollar BondSource: www.export-egypt.com 4/18/2017, Location: Africa |
|
|
|
|
|
The African Export-Import Bank (Afreximbank), a Cairo-based multilateral institution focused on financing and promoting trade in Africa, has sent a request for proposals to international banks for a U.S. dollar-denominated bond issue, banking sources said
The issue would follow last week's launch to syndication of a $700 million loan backed by a group of 14 lenders. Banks submitted their responses on the proposed bond transaction last week, one of the banking sources said. Telephone calls and an email to Afreximbank's spokesman seeking comment were unanswered. The multilateral body, which regularly borrows funds internationally through a variety of debt instruments, is struggling to meet demand for financing from African economies hit by a slump in international commodity prices, Afreximbank's executive vice president George Elombi told Reuters last October. Afreximbank tapped the international bond market last year with a $750 million five-year bond in May, followed by a $150 million tap of the same bond in November. The bonds, part of a $3 billion euro medium term note programme, were led by Mitsubishi UFJ Financial Group together with Barclays, HSBC, Rand Merchant Bank and Standard Chartered. The bank’s latest syndicated loan is arranged by a group of 14 banks comprising Emirates NBD, Bank ABC, Abu Dhabi Commercial Bank, Barclays, Commerzbank, HSBC, ICBC, Mizuho, MUFG, SMBC, NBAD, Standard Chartered, Standard Bank and Rand Merchant Bank. Afreximbank also raised a so-called Samurai loan – a loan provided by Japanese lenders – in early April. That facility, split between U.S. dollars and yen, was worth $106 million. Afreximbank is rated Baa1 by Moody’s. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
