Afreximbank profits from light supply to print $750m

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By Francesca Young
18 Sep 2019

The African Export-Import Bank sold its $750m 10 year bond on Tuesday from a book of around $3.35bn, with recent low supply from African issuers having helped drive demand for the deal.

The note was sold at par with a coupon 3.994% to give a spread of 230bp over mid-swaps. It was trading at 100.75 on Wednesday morning in London, according to a syndicate banker on the deal.

HSBC was global co-ordinator and First Abu Dhabi Bank, HSBC,

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