AFC maintains an active presence in the bond and loan capital markets across currencies and structures – leveraging global banking relationships with financial and multilateral institutions to access bilateral and syndicated loans, private placements and other forms of financing.
Global and Benchmark bonds
Since 2015, out of its US$5 billion Global Medium-Term Note, AFC has managed nine successive Eurobond issuances with a total size of US$5.28 billion and tenor of up to 10 years. All our bond offerings have been significantly oversubscribed – a reflection of our strong market access, high credit quality and reputation with global investors.
We have also been active in the Swiss Franc bond market where we issued a 3-Year CHF100 Million and 4-year CHF200 Million bond in 2017 and 2019 respectively. Additionally, we have tapped the global sukuk bond market, issuing a 3-Year US$150 million sukuk in 2017.
|$750,000,000||2.88%||April 2021||April 2028|
|$700,000,000||3.13%||June 2020||June 2025|
|CHF 200,000,000||5.23%||December 2019||December 2023|
|$500,000,000||4.38%||October 2019||October 2029|
|$650,000,000||4.50%||April 2019||April 2026|
|$500,000,000||3.88%||April 2017||April 2024|
|CHF 100,000,000||0.85%||July 2016||December 2019|
|$750,000,000||4.38%||April 2015||April 2020|
MTNs and Structured notes
AFC has a strong track record of accessing optimally priced funding levels across various currencies and structures. Through its US$5 billion Global Medium-Term Note (GMTN) programme, the Corporation has issued Eurobonds and private placements since 2015.
AFC is at the forefront of driving sustainability in Africa, with an in-depth understanding of the challenges of Green and Social Bond issuances for African Sovereigns and Corporates. As an enabler of transformative initiatives for Africa’s socio-economic and environmental development, AFC has radically rethought its approach in response to the ever-growing needs of Africa’s infrastructure.
In September 2020, we issued our first Green Bond (valued at CHF150 million) – the first issuance by an African Supranational. Our Green Bond programme is consistent with ICMA’s Green Bond Principles – established by the International Capital Market Association (ICMA). It has also been independently reviewed and given a positive second-party opinion.