AFC scores $140m Kimchi loan as Asian influence in Africa rockets

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By Mariam Meskin
21 Nov 2019

Lagos-headquartered multilateral finance institution Africa Finance Corporation (AFC) signed a $140m-equivalent syndicated Kimchi term loan facility with Shinhan Bank — its first Korean-focused tool, as the bank diversifies its funding sources.

This loan is the first facility for AFC with a South Korean bank. 

Nedbank and Shinhan Bank were bookrunners and mandated lead arrangers. KEB Hana Bank acted as mandated lead arranger, NongHyup Bank was lead arranger and First Abu Dhabi Bank was agent. Proceeds will be used for general ...

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