-   Largest ever debut Samurai Loan for an African Issuer

-   The facility raised US$ 233 million and JPY 1 billion

-   Advances AFC's objective of building a broad coalition ofinternational investors

TOKYO,JAPAN - African Media Agency - 17 September 2019 - AfricaFinance Corporation ("AFC" or "the Corporation"), Africa's leading investment-gradeinfrastructure solutions provider, announces the successful closure of generalsyndication which raised US$ 233 million and JPY 1 billion. MUFG Bank, Ltd.("MUFG") and Sumitomo Mitsui Banking Corporation ("SMBC")acted as Mandated Lead Arranger and Bookrunner.

MUFG will be acting as Facility Agent on the transaction,while SMBC will be acting as Documentation Agent.

TheFacility, which comprises two tranches, with both tranches (US$-denominatedTranche A and JPY-denominated Tranche B) carrying a tenor of three years each(bullet repayment), is AFC's first Asian-currency denominated loan facility. Itis an important step as the Corporation builds a broad coalition of investorsto diversify its funds and allow institutions from around the globe toparticipate in Africa's development.

The fundraise was very well received in the Japaneseloan market leading to the issue being significantly over-subscribed. This isthe largest debut Samurai Loan by an African issuer. The   facility was signed on 6 September 2019 with eightJapanese lenders committing to the Facility. The Facility launched into generalsyndication on 23 July 2019 at a launch amount of US$ 150 million.

Proceedsfrom the Facility will be used for general corporate purposes in accordancewith AFC's Establishment Agreement and the Charter.

SamailaZubairu, President and CEO of AFC, commented: "The market's keen interest inparticipating in AFC's clearly defined African growth strategy is demonstratedby the wide pool of lenders that supported the syndication. The success of thisloan offering is testament to AFC's ability to diversify our funding sources aswe build a coalition of investors to support our mandate of providing solutionsto Africa's infrastructure deficit as well as to our strong fundamentals as aninvestment-grade institution."

About AFC - www.africafc.org

AFC,an investment grade multilateral finance institution, was established in 2007with an equity capital base of US$1 billion, to be the catalyst for privatesector-led infrastructure investment across Africa.  With a currentbalance sheet of approximately US$4.5 billion, AFC is the second highestinvestment grade rated multilateral financial institution in Africa with anA3/P2 (Stable outlook) rating from Moody's Investors Service. AFC successfullyraised US$650 million in 2019, US$500 million in 2017 and US$750 million in2015 through Eurobond issuances. All Eurobond issues were oversubscribed andattracted investors from Asia, Europe and the USA. 

AFC'sinvestment approach combines specialist industry expertise with a focus onfinancial and technical advisory, project structuring, project development andrisk capital to address Africa's infrastructure development needs and drivesustainable economic growth.  AFC invests in high-quality infrastructureassets that provide essential services in the core infrastructure sectors ofpower, natural resources, heavy industry, transport, and telecommunications. Todate, the Corporation has invested over US$4.5 billion in projects within 29countries across Africa.

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