Africa Finance Corporation (AFC) has secured its largest-ever Samurai loan, raising a record US$524 million equivalent in a dual-currency facility as demand from Japanese lenders surged.
The three-year syndicated loan, comprising US$505 million and JPY 3 billion, was heavily oversubscribed, underscoring growing confidence in AFC’s credit strength and expanding presence in Japan’s capital markets.
AFC’s momentum in Japan follows several milestones, including its debut Samurai loan in 2019, its 2023 guarantee of Egypt’s JPY75 billion Samurai bond, and an A+ (Stable) rating from the Japan Credit Rating Agency earlier this year. The Corporation has raised more than US$1.3 billion across Asian markets over the past decade.
“Japan continues to be an important and strategic market for AFC,” said Banji Fehintola, Executive Board Member and Head of Financial Services at AFC. “The strong support from Japanese lenders in our latest Samurai loan underscores the depth of confidence in AFC and the trust we have built with investors over the past few years. This successful transaction strengthens our funding base and expands our global investor reach as we continue mobilising capital to address the infrastructure deficit in Africa.”
The facility was arranged by long-standing partners Mizuho Bank, MUFG Bank and SMBC Bank International and benefited from strong engagement during AFC’s lender roadshow at TICAD 9 in August. New lenders from across Asia including Bank of Taiwan, China Construction Bank Corporation, First Commercial Bank, Taiwan Business Bank, The Chiba Bank, The Shizuoka Bank, and The Yamanashi Chuo Bank, joined the deal.
Proceeds will support AFC’s general corporate purposes as the Corporation advances sustainable infrastructure development across Africa.
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