Afreximbank closes largest-ever US$1.3bn dual tenor bond issuance

AFRICA – The African Export-Import Bank (Afreximbank) has announced that it has successfully closed a US$1.3 billion dual tenor bond issuance, the bank’s largest-ever transaction in the international debt capital markets. Afreximbank printed a US$600 million 5-year note at a spread of T+185 basis points (bps) and a US$700 million 10-year note at a spread of T+220bps, after achieving a final order book of US$4.5 billion. A statement explained that the Initial Pricing Thoughts (IPTS) were announced at T+220bps area and T+250bps area for the 5-year and 10-year tranches, respectively.…

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