RMB (www.RMB.co.za) acted as global coordinator, bookrunner and mandated lead arranger for African Export Import Bank, or Afreximbank, in securing a USD1.2 billion (R18bn), 3-year Syndicated Term Loan Facility. Afreximbank is a Pan-African multilateral financial institution that finances and promotes intra-and extra-African trade. The proceeds from the Term Loan Facility will be used mainly to refinance existing facilities and general corporate purposes. Suresh Chaytoo- Sector Head Banks and DFI’s at RMB said: “We are really pleased to be part of a significant effort by Afreximbank to boost its mandate across Africa with this transaction. It is encouraging the support that this fund raise received internationally, which is a testament to the credit quality and sound risk management at Afreximbank.” RMB was the only African bank appointed as global coordinator which underlines its commitment to supporting and sustaining the Africa loan market. RMB has a long-standing relationship with Afreximbank spanning ten years. RMB also worked with First Abu Dhabi Bank PJSC and Standard Chartered Bank as joint global coordinators, bookrunners and mandated lead arrangers on the facility. Launched to a limited group of relationship banks at a launch amount of US$600 million equivalent, the Facility was more than 2.3x oversubscribed allowing for Afreximbank to subsequently upsize the amount to US$1.2 billion while also scaling back the banks on the deal. This successful transaction, launched against the backdrop of volatility that resulted from the announcement of the Omicron variant of COVID-19, is testament to the strength of Afreximbank’s investor relationships and the high regard and confidence that the market has for the Bank’s financial strength, and its importance to the continent. Afreximbank has a rich history of intervening in support of African countries in times of crisis. Through the Pandemic Trade Impact Mitigation Facility (PATIMFA) launched in April 2020, the Bank has disbursed more than US$7.5 billion to help member countries manage the adverse impact of financial, economic, and health shocks caused by the COVID-19 pandemic. Distributed by APO Group on behalf of Rand Merchant Bank. Send us your press releases to pressrelease.zawya@refinitiv.com © Press Release 2021 Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release. The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk. To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
