Cairo, Egypt – The African Export–Import Bank (Afreximbank) has raised $2 billion through a three‑year dual‑tranche syndicated term‑loan facility, its largest ever such borrowing. The deal, completed on March 9, 2026, attracted significantly more interest than initially targeted, underscoring strong investor confidence in the bank’s credit profile.
Okay News reports that the transaction was launched with an initial aim of about $1.5 billion but scaled up to $2 billion after commitments from lenders exceeded the bank’s target. The facility consists of a $1.73 billion US dollar tranche and a €228 million euro tranche, equivalent to $2 billion in total. The proceeds will be used to refinance existing obligations and support general corporate activities rather than a single project.
Chandi Mwenebungu, Afreximbank’s Managing Director for Treasury, Markets, and Group Treasurer, said the deal is a clear sign of global investors’ trust in the bank’s “credit story” and its access to international markets. A total of 31 lenders from Europe, the Middle East, Asia, and Africa joined the syndicate, with Mashreqbank PSC, MUFG Bank, and Standard Chartered Bank acting as joint global coordinators and bookrunners. Standard Chartered also serves as facility and documentation agent.
Afreximbank, a multilateral development bank, focuses on financing intra‑ and extra‑African trade, industrialisation, and infrastructure. The fundraising comes months after the bank ended its rating relationship with Fitch Ratings following a 2025 downgrade from BBB to BBB‑ with a negative outlook, a move it publicly challenged. Senior Afreximbank officials have argued that external rating models can unfairly raise borrowing costs for African‑linked entities despite improving fundamentals. The $2 billion syndicated facility suggests that institutional investors are still willing to back the bank on terms consistent with its growth ambitions.
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