Last Updated June 01, 2011
Afrexim deal set for oversubscription
Mandated lead arrangers ICBC and WestLB are expecting to sign a syndicated facility for the African Export-Import Bank (Afrexim) in the coming weeks.
The dual-tranche facility was widely welcomed by the market, and is set for an oversubscription.
The transaction was launched with a US dollar tranche of US$175mn and euro tranche of €75mn.
General syndication has closed and the deal is in documentation phase pending its final signing in mid-June.
Afrexim was last in the syndicated market in October 2008 when it raised a US$65mn and €31mn dual-tranche facility via mandated lead arrangers Arab Banking Corporation, Commerzbank, HSBC and LBBW.
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