Africa Finance Corp. Plans More Eurobonds for Infrastructure
- Lender sold 100 million Swiss francs of Eurobonds in July
- More borrowing planned as further projects are identified
This article is for subscribers only.
The Africa Finance Corp., a development-finance institution that funds infrastructure on the continent, plans to sell more Eurobonds to support energy-generation and logistics projects.
The Lagos, Nigeria-based lender, which has financed projects in 26 African countries, has scope to borrow more offshore in its $1.5 billion funding strategy after raising 100 million Swiss francs ($103 million) in a debut three-year Eurobond in July, said Ini Urua, senior vice president for east and southern Africa. It will go to the market as funding needs grow with new projects, he said in an interview Wednesday in the Kenyan capital, Nairobi.