Africa Finance Corporation (AFC), an African supranational financial institution, priced its inaugural US$750 million 4.375% 5-year international bond.
This represents the first issue under AFC’s US$3,000,000,000 Global Medium Term Note Programme. The issue’s settlement date is April 29, 2015 with a maturity date of April 29, 2020.
The proceeds of the issuance will be used for general corporate and financing purposes and to repay all amounts outstanding under an existing bridge facility.
The Eurobonds were placed following a seven-day roadshow across 3 continents and involving meetings with over 100 institutional investors. The final order book was more than six times oversubscribed at over US$4.7 billion from a total of 315 investors, enabling a well-diversified distribution among interna
