The African Export-Import Bank (Afreximbank) has successfully raised $299.9 million (2.2 billion renminbi) through its inaugural issuance of a Chinese Panda bond, marking a significant milestone in the institution’s efforts to diversify funding sources.
This Panda bond, which carries an interest rate of 2.99%, represents the first issuance by an African multilateral financial institution and the second by any African entity, following Egypt’s 2022 Panda bond offering.
The issuance was led by Bank of China Limited, which served as the lead underwriter and bookrunner, while Exim Bank of China and Industrial and Commercial Bank of China (ICBC) acted as joint lead underwriters.
Read more at Nairametrics
This Panda bond, which carries an interest rate of 2.99%, represents the first issuance by an African multilateral financial institution and the second by any African entity, following Egypt’s 2022 Panda bond offering.
The issuance was led by Bank of China Limited, which served as the lead underwriter and bookrunner, while Exim Bank of China and Industrial and Commercial Bank of China (ICBC) acted as joint lead underwriters.
Read more at Nairametrics