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ACCRA, GHANA - JUNE 18: Two men use their smartphones during a coffee break at the African Export-Import Bank (Afreximbank) Annual Meeting on June 18, 2023 at the Accra International Conference Center in Accra, Ghana. The event is to mark the high point of the bank’s year-long 30th-anniversary celebrations, under the theme “Delivering the Vision. Building Prosperity for Africansâ€. (Photo by Ernest Ankomah/Getty Images).
African Export-Import Bank has mandated banks for a three-year Panda bond offering.
Bank of China is the lead underwriter and bookrunner, while Export-Import Bank of China and Industrial and Commercial Bank of China are the joint lead underwriters and bookrunners.
The deal has a base size of Rmb1bn (US$138m) and is capped at Rmb2.5bn. Bookbuilding will be on March 28.
The proceeds will be used to fund the issuer's ordinary operations denominated in renminbi or other currencies. No less than 20% of the proceeds will be retained in renminbi and used onshore China, and up to 80% will be used offshore.
Source: IFR
