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
Cairo, Egypt
Tel: +202 24564238
Jonathan Macdonald
National Bank of Abu Dhabi
Managing Director
Global Head of Syndicated Finance
Abu Dhabi, U.A.E
Tel: +9712 6112598
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