The African Export-Import Bank (Afreximbank) raised $1.3 billion this weekThis is the multilateral financial institution's largest ever debt issue to finance trade in Africa.

"The transaction is an important milestone for Afreximbank, marking the second time the bank has accessed the US markets and is the institution's largest transaction in the debt financial markets to date, meeting several primary objectives of the risk management strategy, which includes diversification by geography and investor types," reads a note sent to Lusa.

In the note, Afreximbank specifies that it split the total $1.3 billion into two issues, a $600 million five-year debt with an interest rate of 2.63% and a $700 million 10-year debt with a premium of 3.79%, having received bids totaling $4.5 billion.

For the bank's Vice President in charge of Finance, Denys Denya, "this historic agreement confirms the continued deep investor confidence in Afreximbank's mission and credit track record."

"In addition, the achievement of a competitive price in both tranches is a testimony to the robust support of investors from all major financial markets globally," he said.

With this, Denys Denya added, Afreximbank "can continue to play a primary role in the development of trade within Africa and with the rest of the world, benefiting from resources and financing investments that will have a positive impact on trade on the continent."

"Afreximbank, a bank with assets totaling $21.5 billion, disbursed more than $6.5 billion last year to help member countries manage the adverse financial, economic and health impact caused by the Covid-19 pandemic," the statement further pointed out.