By Onu Okorie

Africa Finance Corporation AFC the continent’s leading infrastructure solutions provider, has successfully raised $500 million through a five-year unsecured Eurobond.

A statement made available to the media yesterday in Abuja explained that Bond is the tightest pricing ever achieved by the Corporation on a five-year US dollar benchmark transaction.

The notes were priced at a coupon of 5.375%, marking AFC’s narrowest spread over US Treasuries for a benchmark five-year issuance and a marked improvement on the terms of its previous Eurobond, completed in 2024.

The offering drew strong demand from institutional investors across the United Kingdom, Europe, Asia, the United States and the Middle East, with the order book closing roughly two times oversubscribed.

Notably, the transaction reached a new tier of institutional buyers, with central banks, including one from Africa, investing in an AFC bond for the first time.

The Corporation described the milestone as evidence of its growing appeal among global reserve managers in search of high-quality, investment-grade assets that also deliver strong developmental impact.

The bonds carry ratings of A from S&P Global Ratings and A3 from Moody’s Ratings, consistent with AFC’s long-term issuer ratings.

Samaila Zubairu, President & CEO of AFC, said the transaction “reflects the strong confidence global investors continue to place in AFC, our strategy, and our role in advancing Africa’s economic transformation.”

AFC characterized the outcome as a reflection of its solid credit fundamentals, disciplined financial management, and rising recognition among global investors as a premier investment-grade issuer dedicated to financing infrastructure and industrial development across Africa.