The Africa Finance Corporation has announced the successful closing of a $1.16 billion syndicated loan — its “largest-ever” debt facility.
The infrastructure solutions provider said the loan is a significant milestone in the company’s unwavering commitment to developing critical infrastructure projects across the continent by enhancing its financial flexibility and diversifying its investor base.
Commenting on the development, Samaila Zubairu, AFC’s president and chief executive officer , said the loan, which is its largest ever, is to ensure infrastructure projects across Africa.“The global loan market’s overwhelming interest in Africa’s growth story is evident in the large pool of lenders that supported this syndication, making it AFC’s largest ever,” said Zubairu.
The firm also described the loan as a testament to global capital markets and its pivotal role in fostering economic growth and industrialisation in Africa.