The Africa Finance Corp. (AFC) has closed its $140 million Kimchi Term Loan Facility, the institution’s first Korean-focused instrument.
This follows the close of AFC’s Samurai Term Loan Facility in September with $233 million and the $300 million close of a loan through the Export-Import Bank of China.
AFC has now cumulatively raised $1.2 billion from Asian investors, with investments coming out of China, Hong Kong, Singapore, Malaysia and Taiwan.
“At AFC, we have always taken a diverse and forward-looking approach to funding,” said Banji Fehintola, senior director and treasurer of AFC. “Asia is a very important region for us, and the participation of Asian investors in our bond issuances has been growing significantly over time.”
He added, “We are very proud of our successes in Asia, and we look forward to deepening our partnerships in the region.”
The facility launched into general syndication on Sept. 16, and the loan agreement
