African Export-Import Bank (Afreximbank) has successfully priced a US$1.5 billion dual-tranche Reg S/144A senior unsecured benchmark Eurobond, marking its first US dollar public bond issuance since July 2021 and its largest bond issuance to date. The bond was issued in two tranches: US$750 million with a 5.5-year tenor, maturing in January 2032, and US$750 million with a 10-year tenor, maturing in July 2036.
The transaction attracted strong demand from international investors across the UK, Europe, Asia and the United States, with the order book peaking at US$3.8 billion. The issuance was approximately two times oversubscribed, with demand evenly split across both tranches. Supported by the robust demand, Afreximbank tightened pricing by 37.5 basis points on each tranche, resulting in final yields of 6.25% for the 5.5-year tranche and 7.125% for the 10-year tranche.
This successful return to the US dollar public bond market follows the Bank’s issuances in alternative formats and currencies in recent years, including Samurai bond issuances in 2024 and 2025 and a Panda bond issuance in 2025.Commenting on the transaction, Chandi Mwenebungu, Afreximbank’s Managing Director, Treasury and Markets, and Group Treasurer said, “This successful issuance shows the confidence that investors continue to place in Afreximbank and in Africa’s growth story. 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.”
HSBC Bank plc acted as the Global Co-ordinator, while Standard Bank of South Africa Limited, Standard Chartered Bank, Commerzbank Aktiengesellschaft and MUFG Securities EMEA plc, acted as Joint Lead Managers and Joint Bookrunners. This transaction marks another milestone in Afreximbank’s funding journey and underscores the bank’s continued ability to access international capital markets on competitive terms while connecting global capital to Africa’s long-term growth story.
Africa Fact: Africans were the first to organise fishing expeditions 90,000 years ago. At Katanda, a region in northeastern Zaïre (now Congo), was recovered a finely wrought series of harpoon points, all elaborately polished and barbed. Also uncovered was a tool, equally well crafted, believed to be a dagger. The discoveries suggested the existence of an early aquatic or fishing based culture.
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Fun South African Fact: South Africa in size is three times the size of Texas and five times the size of Japan.
Flotsams54
A new teacher enters a classroom full of students.
The teacher stands at the front of the room and greets the students, \”Good morning, class.\”
None of the students say anything. One boy at the back of the classroom stands up, \”Good morning, teacher.\”
Puzzled, the teacher carries on. The following morning, the same thing happens. Day after day goes by, and it\’s the same routine.
One morning after greeting the class and the same student standing and greeting, the teacher has had enough, \”Why is it, that every time I walk in and greet the entire room, only you stand up and greet me?\”
In the most broken English, the boy replies, \”Because I are the only one here, what\’s name are Klass\”