The Africa Finance Corporation (AFC), in a statement released on Tuesday announced the closure of a record-breaking syndicated loan amounting to $1.16 billion, sourced from a variety of banks across Asia, the Middle East, and Europe. Initially set at $1 billion, the loan experienced a 49% oversubscription, reflecting the international investors' confidence in AFC's creditworthiness and ability to navigate the ever-evolving global economic landscape.

Leading international financial institutions including First Abu Dhabi Bank, Mashreqbank, MUFG Bank, and Standard Chartered Bank collectively coordinated the transaction on the global front, while the Industrial and Commercial Bank of China served as the coordinator for China. Also, Abu Dhabi Commercial Bank, Emirates NBD Bank, Mizuho, and Sumitomo Mitsui Banking Corporation acted as bookrunners and arrangers.

Furthermore, the Bank of China and Société Générale were the initial mandated lead arrangers, marking a significant milestone as financial entities such as Société Générale Group, Bank Muscat (Sultanate of Oman), and Intesa Sanpolo Bank Luxembourg participated in funding AFC for the first time.

Established in 2007 with an initial capital of $1.1 billion, the AFC aims to catalyze infrastructure investments across Africa. Its leading shareholders include the African Reinsurance Corporation, the African Development Bank (AfDB), and pan-African banking groups Ecobank and United Bank for Africa (UBA). With 43 member countries, the corporation boasts over $13 billion in investments throughout the continent, emphasizing its pivotal role in fostering infrastructure development in Africa.