MUFG has completed a $640m incremental facility to increase the size of a $240m Samurai loan for the African Export Import Bank (Afreximbank).

Ankit Khandelwal, Head of Africa – Sovereigns, DFIs and Blended Finance, MUFG EMEA, said: “We are pleased to have been able to continue our long term relationship with Afreximbank by successfully delivering on another strategic financing transaction.” 

“Our global footprint and leadership in Samurai market are key strengths of MUFG. We are committed to supporting our clients in navigating Japanese liquidity to support developmental finance in Africa.”

The incremental facility was arranged to further support Afreximbank’s ability to expand and diversify African trade through increased trade finance and improved facilitation of Intra-African trade and value-added exports.

MUFG acted as sole coordinator on this deal, marking the fifth sole mandate between

MUFG and Afreximbank for Samurai loans, raising approximately $1.7bn in aggregate.

Arranging this facility demonstrates MUFG’s continued expertise in enabling opportunities for African borrowers to benefit from Japanese liquidity by utilising our global network and unparalleled access to Japan.

Chandi Mwenebungu, Director and Group Treasurer, Afreximbank, said: “The conclusion of this incremental facility marks yet another important milestone in the Bank’s fund-raising activities as it buttresses the diversification of Afreximbank’s funding. Many thanks to MUFG and the Japanese lenders who have always supported us each time we tap the Japanese market.”