The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, has been announced winner of the Debt Deal of the Year Award at the 14th Annual African Banker Awards 2020 held virtually. The awards recognise institutions and individuals driving growth and development in Africa and creating new economic opportunities for citizens and communities across the continent.
The Debt Deal of the Year Award was granted to Afreximbank for a €1 billion syndicated senior loan facility arranged with Credit Suisse for Nigeria’s Bank of Industry. The funds have supported the Bank of Industry’s work expanding, diversifying and modernising Nigeria’s industrial sector. Having originally been sized at €750 million, the debt raising was successfully upsized to €1 billion through a general syndication that secured liquidity from over 20 investors.
In its role as Coordinating Mandated Lead Arranger and Bookrunner, Afreximbank played an integral role in attracting a wide diversity of investors ranging from African and non-African banks and financial institutions as well as development finance institutions, a statement explained.
In his acceptance speech, Afreximbank’s Executive Vice President for Business Development and Corporate Banking, Amr Kamel,who received the award on behalf of the Bank said the Bank of Industry deal was a major step on the path to a strong and resilient African economy.