The African Export-Import Bank (Afreximbank) has raised $523 million (¥81.3 billion) in its inaugural issue of a Samurai bond, making it one of the only few African institutions to raise funds in the unique Japanese market. A Samurai bond is a Japanese yen-denominated facility aimed primarily at individual and institutional investors in the Asian powerhouse, and provides a means of raising funds in Japan capital markets. “We have been in the Samurai loan market since 2017 and this time we are very happy to extend our footprints to the Samurai bond market as well. According to the bank, the institutional Samurai transaction attracted almost 150 orders, which is higher than any other debut Samurai transaction issued by African institutions. Currently, Kenya and Nigeria are also considering a Samurai bond to diversify funding sources as yields in the Eurobond market have hit record levels, making it expensive to access funding from the markets.

Source: The North Africa Journal November 18, 2024 17:00 UTC