Afreximbank Raises Record US$1.5 Billion in Largest-Ever Eurobond Issuance

African Export-Import Bank (Afreximbank) has successfully raised US$1.5 billion through a dual-tranche Reg S/144A senior unsecured benchmark Eurobond, marking its first US dollar public bond issuance since July 2021 and the largest bond offering in the bank's history.

The issuance comprises two US$750 million tranches: a 5.5-year bond maturing in January 2032 and a 10-year bond maturing in July 2036.

The transaction received strong backing from international investors across the UK, Europe, Asia and the United States, with the order book peaking at US$3.8 billion.

The bond was around two times oversubscribed, with investor demand evenly distributed across both tranches. Strong market appetite enabled Afreximbank to tighten pricing by 37.5 basis points on each tranche, resulting in final yields of 6.25 per cent for the 5.5-year tranche and 7.125 per cent for the 10-year tranche.

The successful return to the US dollar public bond market follows the bank's recent funding activities in alternative markets and currencies, including Samurai bond issuances in 2024 and 2025, as well as a Panda bond issuance in 2025.

Commenting on the transaction, Chandi Mwenebungu, Afreximbank's Managing Director, Treasury and Markets, and Group Treasurer, said: "This successful issuance shows the confidence that investors continue to place in Afreximbank and in Africa's growth story. For us, this is a clear sign that the market continues to believe in Afreximbank's work and in Africa's economic prospects. Our role remains to connect capital to the opportunities that will drive trade, industrialisation and growth across the continent."

HSBC Bank plc served as the Global Co-ordinator, while Standard Bank of South Africa Limited, Standard Chartered Bank, Commerzbank Aktiengesellschaft and MUFG Securities EMEA plc acted as Joint Lead Managers and Joint Bookrunners.

The landmark transaction represents another significant milestone in Afreximbank's funding strategy, reinforcing the bank's ability to access international capital markets on competitive terms while mobilising global capital to support Africa's long-term trade, industrialisation and economic growth ambitions.