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Afrexim secures year-end oversubscription

04 January 2010

Pan-African export credit agency African Export-Import Bank (Afreximbank) has seen its latest trade refinancing more than double as banks rushed to join the deal before year-end.

Read more: [Afreximbank syndication]

Pan-African export credit agency African Export-Import Bank (Afreximbank) has seen its latest trade refinancing more than double as banks rushed to join the deal just before year-end.

A group of 21 banks eventually signed the loan which refinances an existing $175 million facility signed in November 2006.

The one-year deal was originally launched with two tranches: a $124 million term loan and a Eu40 million term loan. These amounts increased in syndication to...


Poll

Credit insurers have withstood the crisis admirably settling a high number of claims during 2009. If you are actively involved in trade transactions what percentage of your deal book now enjoys some political or credit risk cover from private insurers?

75% to 100%
33%
50% to 75%
30%
25% to 50%
9%
25% or less
10%
I don’t use private credit insurers
18%

Quote

You ignore LCs at your peril as a trade bank.

Mark Evans, ANZ - Banks examine the bigger trade picture - April 2010