African Export-Import Bank (Afreximbank), in partnership with other institutions has placed $400 million 5-Year 144A/Reg S Senior Unsecured Eurobond.
Afreximbank made the placement through its Advisory & Capital Markets (ACMA) investment banking arm acted as a Joint Lead Manager (JLM) and Bookrunner to place and close Fidelity Bank Plc.
The transaction settled on October 28 and other JLMs/Bookrunner were Citi and J.P. Morgan.
Fidelity Bank recently announced marketing of a benchmark 5-year bond, which was followed by a two-day virtual roadshow.
The virtual roadshow comprised of a Global Investor Call and a series of small group and one-on-one meetings with some of the key international and local accounts in the Emerging Market space.
The bond is priced at a Re-offer Yield of 7.875 per cent and a coupon of 7.625 per cent.
President of the board of directors of Afreximbank, Prof Benedict Oramah, said: “Afreximbank’s role in this transaction is strategic and emblematic of both consistency in delivery of value to our clients throughout their growth life cycle, and of the Bank’s successful drive to provide innovative and sustainable funding options via the Debt Capital Markets in addition to our client-tailored banking services.”
