Afreximbank looks to raise USD 3 bn this year
The African Export-Import Bank (Afreximbank) is looking to raise around USD 3 bn this year via Eurobonds, syndications, and bilateral and institutional lending to finance its activities, bank President Benedict Okey Oramah told Reuters on Tuesday. "We are going to issue a Eurobond very soon. We are going to go to the syndicated loan market. We are also prepared to issue some local currency bonds, so we can fund some local currency activities." Oramah said the bank aims to issue a Eurobond by mid-year depending on market conditions, but stopped short of disclosing how much it would raise. Local currency bonds are set to be issued in the last quarter of the year at no more than USD 200 mn, he said. The bank is also looking to increase deposits from the central banks of member countries to USD 10 bn compared to USD 3 bn currently, Oramah said.