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Afreximbank has completed its largest bond issuance ever, raising $1.5 billion in a dual-tranche Reg S/144A Eurobond that drew strong interest from global investors and underscored confidence in both the institution and Africa’s long-term growth prospects. 

The Cairo-based multilateral lender returned to the US dollar public bond market for the first time since 2021 with two evenly sized tranches – $750 million with a 5.5-year tenor maturing in January 2032, and $750 million with a 10-year tenor maturing in July 2036. 

Demand for the bond surged across the UK, Europe, Asia and the United States, pushing the order book to $3.8 billion, nearly twice oversubscribed and evenly split between the two tranches. The strong appetite enabled Afreximbank to tighten pricing by 37.5 basis points on each tranche, achieving final yields of 6.25% for the shorter tenor and 7.125% for the longer one, which highlights the bank’s ability to access international capital markets competitively despite a challenging global environment.

The issuance marks a significant milestone in Afreximbank’s funding strategy, following the Bank’s issuances in alternative formats and currencies in recent years, including Samurai bond issuances in 2024 and 2025 and a Panda bond issuance in 2025 

Chandi Mwenebungu, the Bank’s Managing Director, Treasury and Markets, and Group Treasurer, said the outcome reflects sustained investor trust. “This successful issuance shows the confidence that investors continue to place in Afreximbank and in Africa’s growth story. For us, this is a clear sign that the market continues to believe in Afreximbank’s work and in Africa’s economic prospects. Our role remains to connect capital to the opportunities that will drive trade, industrialisation and growth across the continent.”

The transaction was led by HSBC as Global Coordinator, with Standard Bank, Standard Chartered, Commerzbank, and MUFG acting as Joint Lead Managers and Joint Bookrunners. Afreximbank said the broad institutional participation reinforces its established relationships across global capital markets and its ability to mobilise large-scale funding for Africa’s trade and industrialisation agenda.

Afreximbank’s broader mandate continues to expand. The Bank finances and promotes intra- and extra-African trade, supports industrialisation, and backs major continental initiatives such as the African Continental Free Trade Area (AfCFTA). It launched the Pan African Payment and Settlement System (PAPSS), which the African Union adopted as the official payment platform for AfCFTA, and established a $10 billion Adjustment Fund to help countries integrate effectively into the free trade area. 

As of December 2025, Afreximbank’s total assets and contingencies stood at $48.5 billion, with shareholder funds of $8.4 billion. The Bank holds investment-grade ratings from CCXI (AAA), GCR (A), JCR (A ), S&P (BBB+), and Moody’s (Baa2), supporting its continued access to global capital.

Afreximbank has evolved into a group structure comprising the Bank, its equity impact fund – Fund for Export Development Africa (FEDA) – and its insurance subsidiary AfrexInsure, strengthening its capacity to support Africa’s trade transformation. Headquartered in Cairo, the institution remains one of the continent’s most important financial actors in mobilising international capital for African development.