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Africa s trade finance future | ALB Article
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World s Best Investment Banks 2021: Best Crisis Finance Solutions
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Mitsubishi UFL Financial Group (MUFG) and the
African Export-Import Bank (Afreximbank) have secured close of a USD 520 million facility on 3 December.
MUFG acted as sole mandated lead arranger, bookrunner and agent on the deal. Cairo-headquartered Afreximbank said the deal was in line with its support for trade and investment, export manufacturing and industrialisation in Africa, key sectors in maximising the continent’s economic potential. It will use the income from the facility to support its Pandemic Trade Impact Mitigation Facility (PATIMFA), established in March to support states, banks and companies through the coronavirus pandemic, particularly in relation to trade.
“This facility marks a watershed moment for African institutions looking to tap the Japanese investor pool,” said MUFG’s head of emerging markets for Europe, the Middle East and Africa,
MUFG closes $520 million COVID-19 response facility with Afreximbank
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MUFG leads on ground-breaking $520 million COVID-19 response facility for Afreximbank
London, Cairo, 14 December 2020 - MUFG and African Export-Import Bank (Afreximbank) have closed a ground-breaking $520 million facility, the first to be covered by Nippon Export and Investment Insurance (NEXI). NEXI s proactive support for this facility was agreed on the basis of Afreximbank being a strategic partner, participation from Japanese investors, and the deal contributing to the UN s Sustainable Development Goals (SDGs).
MUFG was the sole Mandated Lead Arranger, Bookrunner, Agent and NEXI Coordinator on the transaction, with the documentation closing on 3 December 2020. The facility fully aligns with Afreximbank s strategic priorities in the area of intra and extra African trade and investment, export manufacturing, as well as industrialisation. These objectives find common ground with NEXI s objectives of supporting sustainable African growth and development in line with TICAD objective