African Export-Import Bank (Afreximbank) has successfully priced a $1.5 billion dual-tranche Reg S/144 senior unsecured benchmark Eurobond, marking its first dollar public bond issuance since July 2021 and largest bond issuance to date.
According to the bank, the bond was issued in two tranches: $750 million with a 5.5-year tenor, maturing in January 2032, and $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 $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 per cent for the 5.5-year tranche and 7.125 per cent for the 10-year tranche.
The issuance also marked another milestone in Afreximbank’s funding journey and underscored the bank’s continued ability to access international capital markets on competitive terms while connecting global capital to Africa’s long-term growth story.
The bank said the successful return to the dollar public bond market follows the its 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, Afreximbank’s Managing Director, Treasury and Markets, and Group Treasurer Chandi Mwenebungu 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.”
The bank also added that 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.
