NAIROBI (Reuters) -The Africa Finance Corporation, a Lagos-based continental financial institution, has secured $1.5 billion through a syndicated loan in its biggest-ever debt fundraising deal, it said on Monday.
AFC, which is owned by African central banks and development lenders, got the cash through a three-year facility, which was initially looking to raise $1.3 billion, it said.
The deal, whose proceeds will be used in the institution’s general investment portfolio, attracted strong demand from lenders in the Middle East, Africa, Asia and Europe, AFC said.
“This underscores robust investor appetite for Africa’s infrastructure growth opportunities,” it said.
Lead arrangers in the transaction included Abu Dhabi Commercial Bank, Commerzbank AG and Standard Chartered Bank, which served as global coordinators, AFC said.
(Reporting by Duncan MiririEditing by Tomasz Janowski)
