By Africa Links 24
Published on 2024-03-05 07:32:42
Afreximbank, the number one Mandated Lead Arranger, Bookrunner, and Administrative Agent for Sub-Saharan Africa Borrower Loans, has recently achieved a remarkable milestone by simultaneously topping prestigious rankings in all three categories for the first time in its 30-year history. This achievement highlights the Bank’s leadership role in facilitating capital from within and outside of the continent to meet the financing needs of African member states and organizations.
Despite the challenges faced by the African syndicated loan market in 2023, with volumes remaining relatively subdued at US$32 billion and only 82 loans closing during the year, Afreximbank’s rankings reflect its unwavering commitment to its mandate. The Bank has almost doubled its market share in both the Mandated Lead Arranger and Bookrunner categories, increasing from 8% and 9% in 2022 to an impressive 19% and 14% in 2023, respectively. In the Loans Agency category, Afreximbank retained a significant 15% market share and secured the position of the number one facility agent for the first time ever.
Afreximbank’s specialized agency team is dedicated to growing the provision of loans agency and security trustee services, actively managing some of the largest loans on the continent. The Bank’s pivotal role in closing the funding gap across various industry sectors is evident in its increased market share, particularly in the challenging sectors of oil and gas and sovereign finance.
In 2023, Afreximbank facilitated landmark financings, including the US$1.3 billion Project Gleam facility for the Angolan Ministry of Finance, the largest “Green Loan” in Africa to date. The Bank also participated in the prefunding of the US$2.7 billion multi-sourced financing for the development of Lots 3-4 of the Standard Gauge Railway in Tanzania, among other significant financing deals in the oil and gas sector.
Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, expressed his pride in the Bank’s outstanding rankings in the Bloomberg League tables, emphasizing Afreximbank’s commitment to driving economic growth and facilitating capital flows within the African continent. He credited the success of the rankings to the hard work and commitment of his colleagues, reinforcing Afreximbank’s position as a trusted financial partner for African organizations.
The Bloomberg Capital Markets tables showcase the top arrangers, bookrunners, and advisors across various deal types in the financial sector, including loans, bonds, equity, and M&A transactions. Afreximbank’s leadership position in the African loan markets and its ability to attract capital from a diverse range of investors and stakeholders both within and outside the continent demonstrate its continued impact and relevance in the financial industry. The Bank looks forward to servicing the financing requirements of African borrowers for many years to come, solidifying its position as a key player in the African financial landscape.
