AFC Breaks Records with CHF350 Million Digital Bond
Africa Finance Corporation (AFC) has issued a record-breaking CHF350 million digital bond in the Swiss franc market. This is not only AFC's largest Swiss franc issuance but also the biggest digital bond ever issued in the Swiss market.
The bond, which carries a 1.4925 per cent coupon, was listed and admitted for trading on the SIX Swiss Exchange and deposited with the SIX Digital Exchange. Clearing and settlement were handled by SIX SIS AG.
AFC President and Chief Executive Officer Samaila Zubairu said the transaction demonstrates investor confidence in the Corporation's strategy, credit strength, and development mandate.
Commerzbank AG acted as technical lead for the transaction, while Deutsche Bank AG London Branch served as arranger. The bond was issued under AFC's $5bn Global Medium-Term Note Programme.