Search

Africa Finance Corporation $500 Million Hybrid Bond Oversubscribed by 150%

Allen dreyfus Logo
© Allen Dreyfus
  • Inaugural perpetual bond issuance attracts $1.1 billion in demand.
  • Funds to support transformative infrastructure projects, including Lobito Rail Corridor and Red Sea Power.

Abuja, Nigeria – Africa Finance Corporation (AFC), a development bank focused on African infrastructure, announced the success of its inaugural $500 million “hybrid bond,” which was 150% oversubscribed, with demand peaking at $1.1 billion. Sold at a coupon rate of 7.50%, the perpetual bond combines features of both equity and debt, with an initial non-callable period of 5.25 years, the Lagos-based institution said in a statement.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


By signing in, you agree to receive Allen Dreyfus newsletters and updates. You can unsubscribe at any time.

Recent Business

Copper mine. Photo by Jandira Sonnendeck @ Unsplash
Can Arc Minerals deliver? Africa’s copper ambitions face funding test
Read More »
Diamond. Photo by Plato Terentev @ Pexels
Is Africa’s diamond recovery real? De Beers exposes cracks
Read More »
A crowd of people waiting in line at a ticket station in Beijing, China, Photo by Zhang Kaiyv @ Pexels
Who wins Africa’s race for China’s yuan payments?
Read More »

Recent Politics

Abiy Ahmed Ali, Prime Minister of Ethiopia. Photo @Abiy Ahmed Ali/X
Could Ethiopia’s Eritrea crisis derail its debt recovery?
Read More »
Healthcare worker puts on PPE gear in a medical facility for safety and protection. Photo by CDC @Pexels
Nigeria’s Ebola test: Can containment safeguard investor confidence?
Read More »
The war in Sudan has displaced thousands of people. Photo @ Pexels
World Bank’s $100bn crisis shield exposes investment divide
Read More »

Latest Posts

Latest news insights