Yemisi Izuora
The African Export-Import Bank, or Afreximbank, has made a return to the public U.S. dollar bond market after raising $1.5 billion in its largest-ever bond issuance on the international capital markets.
The proceeds will finance trade, industrialization and projects supporting economic growth across Africa.
The offering was divided into two $750 million tranches. The first, a 5.5-year bond yielding 6.25 per cent matures in January 2032. The second, a 10-year bond yielding 7.125 per cent matures in July 2036.
The offering attracted $3.8 billion in orders, more than 2.5 times the amount issued. The strong order book allowed Afreximbank to tighten pricing on both tranches by 37.5 basis points from initial guidance.
The bonds attracted investors from the United Kingdom, continental Europe, Asia and the United States.
“This successful issuance shows the confidence that investors continue to place in Afreximbank and in Africa’s growth story,” said Chandi Mwenebungu, Managing Director of Treasury and Markets and Group Treasurer.
“For us, this is a clear sign that the market continues to believe in Afreximbank’s work and in Africa’s economic prospects. Our role remains to connect capital to the opportunities that will drive trade, industrialisation and growth across the continent,” he added.
The issuance is part of a strategy launched several years ago to diversify the bank’s funding sources. The latest transaction follows several Samurai bond issues in 2024 and 2025 and a 2.2 billion yuan ($325 million) Panda bond issued in China in 2025.
It was Afreximbank’s first public dollar issuance since May 2021, when it raised $1.3 billion through two bonds with maturities of five and 10 years.
The bond sale comes as Afreximbank continues to expand its financing for intra-African trade.
As of December 31, 2025, the bank’s assets and guarantees stood at $48.5 billion, while shareholders’ equity totaled $8.4 billion. Its balance sheet and international credit ratings underpin its ability to raise funds in global capital markets.
HSBC Bank plc coordinated the transaction.
Standard Bank of South Africa, Standard Chartered Bank, Commerzbank Aktiengesellschaft and MUFG Securities EMEA plc served as joint lead managers and bookrunners.