AFC Breaks Records with $430mln Digital Bond Issue

Africa Finance Corporation has made history by raising $430.23 million from its first digital bond issuance, making it the largest international issue of its kind in the Swiss Franc market.

The five-year bond carries a coupon rate of 1.4925% and was issued under AFC's $5 billion Global Medium-Term Note Programme to support general funding requirements and finance infrastructure projects across Africa.

The bond attracted significant demand from Swiss domestic investors, representing 90% of orders, with international accounts accounting for the remaining 10%. Banks and financial services institutions represented 57% of the orderbook, while asset managers accounted for 37%, followed by hedge funds at 6%.