Africa Finance Corporation Closes US$140 million Kimchi Term Loan Facility _时代人物智库_http://www.ems86.com/index.php
 
英文报道
 
Africa Finance Corporation Closes US$140 million Kimchi Term Loan Facility
投稿信箱:ems9586@163.com   编辑部:电话:010-86109586广告部:电话:010-86109586发行部:电话:010-86109586

Africa Finance Corporation Closes US$140 million Kimchi Term Loan Facility

LONDON, UK - African Media Agency - 20 November 2019 - Africa Finance Corporation ("AFC," the "Corporation" or the "Borrower"), Shinhan Bank London Branch and South Africa's Nedbank Limited, London Branch (both the "Bookrunner and Mandated Lead Arrangers" or the "BMLAs") are pleased to announce the successful closing of AFC's inaugural US$140,000,000 Kimchi Term Loan Facility ("Facility").



Mr B.H Sung, Chief Rep. Bank of Korea; Mr J.H. Lee, Chief Rep. Financial Supervisory Service in Korea; Mr C.B. Park, General Manager of KEB Hana Bank, London Branch; Mr. Samaila Zubairu President & CEO of Africa Finance Corporation (AFC); the Head of Group & Global Investment Banking, Shinhan Financial group; the Director of Investment Banking, Nonghyup Bank; Mr H.S Kim, Minster of counseller (Economy and Finance), Korea Embassy in London and Mr S.H Seo, General Manager of Shinhan Bank, London Branch

 

The Facility is AFC's first Korean-focused loan facility and an important step as it builds a broad coalition of international investors to diversify its funding sources and allow institutions from around the globe to participate in Africa's development. This Facility follows a successful US$233 million and JPY1 billion dual currency Samurai Term Loan Facility closed in early September 2019 and US$300 million Loan Facility through the Export-Import Bank of China.

 

Proceeds from the Kimchi Term Loan Facility will be used for general corporate purposes in accordance with AFC's Establishment Agreement and the Charter.

 

Samaila Zubairu, President & CEO of AFC, commented: "We are delighted to announce this Kimchi Term Loan Facility, which is testament to AFC's strong fundamentals and ability to diversify our funding sources as we build a coalition of investors to support our mandate of providing solutions to Africa's infrastructure deficit. This also signifies the start of a great partnership with Shinhan Bank and the continuation of our relationship with Nedbank Limited, both ardent supporters of AFC and, indeed, Africa's sustainable development. The Kimchi Facility augments the significant interest we have received to date from Asia, including a dual currency Samurai Term Loan Facility, a Loan Facility secured from the Export-Import Bank of China, and being the first African investment grade financial institution to be accredited by the Korea-based Green Climate Fund. There is clearly heightened market interest in African infrastructure, with investors realising the great potential that exists across the continent."

 

Banji Fehintola, Senior Director & Treasurer of AFC, said: "At AFC, we constantly seek to diversify our sources of funding and Korea is certainly a very key market for us. It is this type of innovative finance that will enable us to continue mobilising global capital to execute projects and transform the lives of people in Africa. We are very proud of the success of this transaction and what we have achieved in Asia, and we look forward to deepening and broadening our partnerships over time."

 

Mr Seung Hyeon Seo, General Manager of Shinhan Bank, London, added: "I am delighted to announce that AFC's syndication has provided another milestone for Shinhan Bank as we engage in a dedicated business relationship in the African continent.  We will continue to build up a sustainable business model within Africa as well as the EMEA region, as we look to lead and support Korean investors to the African Market."

 

Kevin Ryder, UK Country Head for Nedbank, also commented on the Facility: "Nedbank is deeply committed to Africa and its economic development. We see the ability to connect international investors to the African market and vice versa as a core function and a key strength. This inaugural 'Kimchi' loan for AFC is a prime example of how we leverage our loan syndication and distribution capabilities to enable a key client such as AFC to further diversify its investor base. We are grateful to Shinhan Bank for choosing us as their African partner for this transaction." 

 

The Facility launched into general syndication 16 September 2019 and the loan agreement was finalised 11 November 2019.

 

The signing ceremony, which took place in London on Tuesday, 19 November 2019, was attended by the Lenders and representatives of AFC, [Shinhan Life, Embassy of the Republic of Korea, FSS London Representative Office, Bank of Korea, Mirae Asset Daewoo].

 

In addition, KEB Hana Bank also joined as Mandated Lead Arranger, NongHyup Bank was Lead Arranger, and First Abu Dhabi Bank PJSC is the Agent.



时代人物智库   2019-11-21 09:06:55 作者:www.ems86.com 来源: 文字大小:[][][]
热门文章
唐代死刑复核制度探究 1/21
关于掺油工艺在采油作业区的应用现状分析 4/10
“风险社会”中社会风险的刑事政策应对 1/25
干部人事档案管理工作中“三龄一历”的认定 3/4
中亚地区恐怖主义的产生原因及其对策研究 2/18
 

过刊检索

组织机构

收录证书

关于我们 在线投稿 汇款方式 全站搜索 友情链接

        说明:部分文章源于网络转载,原作者无法查证,如有侵犯版权或不同意网络资源共享,请联系指出,我们会立即进行改正或删除有关内容。
        咨询电话:029-86191817  投稿信箱:87610500@163.com