Saturday, June 15, 2024
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Afreximbank closes EUR 200 million and USD 166 million dual-tranche facility for Uganda

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African Export Import Bank (Afreximbank) has concluded a landmark 10-year, dual tranche facility of €200 million and US$166 million for the Government of Uganda. The transaction was structured using the Bank’s innovative specialised finance solution, introduced to facilitate access to long term finance by African sovereigns and other eligible entities.
Afreximbank was the sole Mandated Lead Arranger and Agent of the facility. The Bank worked with multiple partners, including risk mitigation providers. The debt was distributed to a specialized institutional investor base, including Aegon Asset Management, through the Africa Repack Investment Company (ARIC), a specialized vehicle created for that purpose.
The transaction, which is the first of its kind to be implemented by an African Multilateral Financial Institution, will greatly assist Uganda in achieving its trade infrastructure development and industrialisation objectives, thereby promoting the growth of Uganda’s exports and contributing significantly to the country’s economic growth and development in line with its National Development Plan.

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