- Advances AFC's objective of building a broad coalition of international 
  investors

- Yen-denominated facility further diversifies AFC's sources of funding towards
  the Far East     

Africa Finance Corporation ("AFC" or "the Corporation"), Africa's leading 
investment grade infrastructure solutions provider, announces the close of 
general syndication of a minimum US$150,000,000 Dual Currency Samurai Term Loan 
Facility (the "Facility") with  MUFG Bank, Ltd. ("MUFG") and Sumitomo Mitsui 
Banking Corporation ("SMBC"), acting as Mandated Lead Arranger and Bookrunner. 

The Facility, which comprises two tranches, with both tranches (USD denominated 
Tranche A and JPY denominated Tranche B) carrying a tenor of 3 years each 
(bullet repayment), is AFC's first Asian-currency denominated loan facility. It 
is an important step as the Corporation builds a broad coalition of investors 
to diversify its funds and allow institutions from around the globe to 
participate in Africa's development. 

The deal was very well received in the Japanese loan market leading to a 
significant over-subscription. The Facility will be upsized accordingly.

Proceeds from the Facility will be used for general corporate purposes in 
accordance with AFC's Establishment Agreement and the Charter.

Samaila Zubairu, President and CEO of AFC, commented: "Since joining AFC, one 
of my main goals has been to build a broad coalition of international 
investors. Securing this loan facility brings us one step closer. The Japanese 
loan market's overwhelming interest in the Facility, leading to its 
oversubscription, allows us to diversify our funding sources and supports our 
mandate of providing transformational solutions to Africa's infrastructure 
deficit.

"Asia is key to Africa's growth. Japan, in particular, is an important player 
and its guiding principles – quality growth, which focuses on inclusiveness, 
sustainability and resilience as well as human security, which focuses on 
capacity building – are completely aligned with AFC's mission and vision."

The Facility launched into general syndication on 23 July 2019. The signing of 
the loan agreement is scheduled for 2 September 2019.

Notes to Editors

About AFC - www.africafc.org 

AFC, an investment grade multilateral finance institution, was established in 
2007 with an equity capital base of US$1 billion, to be the catalyst for 
private sector-led infrastructure investment across Africa.  With a current 
balance sheet of approximately US$4.5 billion, AFC is the second highest 
investment grade rated multilateral financial institution in Africa with an 
A3/P2 (Stable outlook) rating from Moody's Investors Service. AFC successfully 
raised US$650 million in 2019, US$500 million in 2017 and US$750 million in 
2015 through Eurobond issuances. All Eurobond issues were oversubscribed and 
attracted investors from Asia, Europe and the USA. 

AFC's investment approach combines specialist industry expertise with a focus 
on financial and technical advisory, project structuring, project development 
and risk capital to address Africa's infrastructure development needs and drive 
sustainable economic growth.  AFC invests in high-quality infrastructure assets 
that provide essential services in the core infrastructure sectors of power, 
natural resources, heavy industry, transport, and telecommunications. To date, 
the Corporation has invested over US$4.5 billion in projects within 29 
countries across Africa.

Follow us on Twitter - @africa_finance

SOURCE: Africa Finance Corporation (AFC)