RMB acted as global co-ordinator, documentation agent and initial mandated lead arranger and bookrunner on Africa Finance Corporation's (AFC) landmark US$2 billion syndicated loan facility.
The facility attracted support from 26 financial institutions across Africa, the Middle East, Asia and Europe. As a global co-ordinator and in its role as documentation agent, RMB played a central role in co-ordinating the syndication that ultimately delivered AFC's largest-ever debt facility.
Notably, RMB was the only African bank among the global co-ordinators, reinforcing its role as a key African banking partner to AFC and supporting its continued infrastructure and industrial development mandate across the continent.
Client challenge
AFC sought to raise a syndicated facility that would build on its previous landmark US$1.5 billion transaction. Initially launched at US$1.6 billion, the facility was upsized to $2 billion following strong investor demand.
Execution required mobilising significant liquidity within tight timelines and against a challenging market backdrop characterised by heightened volatility and geopolitical uncertainty. This called for effective co-ordination across a broad and diverse group of international lenders.
Alongside the scale and complexity of the syndication, the deal was launched at compressed margins, following the positive rating agency action on AFC.
“Closing AFC's largest-ever syndicated loan facility in a complex global environment is a defining milestone – one that reflects the unwavering confidence our lending partners place in AFC's credit strength, strategic relevance and execution capabilities," says Banji Fehintola, Executive Board Member and Head of Financial Services at AFC.
RMB's solution
Working alongside a group of global co-ordinators, initial mandated lead arrangers and bookrunners, RMB helped attract additional lenders to the transaction. RMB played a key role in enabling execution across all syndicate lenders — co-ordinating lender engagements, addressing credit and other queries and managing legal processes to ensure a smooth and timely close.
RMB's end-to-end involvement combined syndication leadership, transaction management and execution expertise. The ability to support AFC across multiple aspects of the transaction reflects a long-standing relationship and RMB’s deep understanding of AFC’s funding requirements and development mandate across Africa.
Results and benefits
By successfully co-ordinating a complex, large-scale syndication in challenging market conditions, RMB enabled AFC to secure increased, diversified funding at competitive terms. This strengthens AFC’s ability to scale investment in critical infrastructure and industrial projects across Africa, supporting long-term economic growth and development across the continent.
Deal summary
| Client |
Africa Finance Corporation (AFC) |
| Deal value |
US$2 billion |
| Sector |
Development Finance |
| Capabilities |
Debt Financing Solutions, Syndication and Distribution |
| RMB's role |
Global Co-ordinator, Documentation Agent, Initial Mandated Lead Arranger and Bookrunner |
| Geography |
Pan-African (Headquartered in Nigeria) |
