The National Bank of Abu Dhabi PJSC (NBAD), as Sole Coordinator and Facility Agent, successfully closed a US$ 250,000,000 Term Loan Facility for the African Export-Import Bank (the “Facility”) on 13 November 2014 with Abu Dhabi Commercial Bank PJSC, Al Ahli Bank of Kuwait K.S.C.P, Al Khalij Commercial Bank (al khaliji) Q.S.C., Barclays Bank Mauritius Limited, International Banking, First Gulf Bank PJSC, along with NBAD, as Mandated Lead Arrangers.
The Facility carries a margin of 1.60% p.a. over USD LIBOR, and has a maturity of two years. The proceeds of the Facility will be used to partially repay existing bond issuance, trade finance and general corporate purposes.
Afreximbank provides financing to African private and public-owned enterprises, with no direct lending to governments. The Bank’s history of strong recoveries and its dual recourse lending have kept historic credit performance at levels superior to those of financial institutions operating in similar environments. Afreximbank enjoys a supranational status that mitigates country risk for lending through it to African entities. That status was recognised and registered on 10 April 1997 in accordance with Article 102 of the Charter of the United Nations. The Bank has the status of preferred creditor in its member countries and enjoys investment grade credit ratings of BBB-/Baa2 from Fitch and Moody’s, respectively.
If there are any questions relating to the above please do not hesitate to contact any of the undersigned.
Obi O Emekekwue
African Export-Import Bank
Senior Manager, External Communications
Tel: +202 24564238
National Bank of Abu Dhabi
Global Head of Syndicated Finance
Abu Dhabi, U.A.E
Tel: +9712 6112598