Afrexim launches at $185m and offers 520bp

10 Nov 2009

African Export-Import Bank launched a $184m syndicated loan on Tuesday, its second of the year, as it looks to follow on from making a blow-out debut in the bond market last week.

Afrexim, rated BBB- by Fitch, is offering all-in pricing ranging from 518bp to 452bp, based on an 11 month maturity. Underscoring the loan market’s progress in the last six months, the pricing is tighter than the borrower’s $300m equivalent one year loan signed in July. That had a ...

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