The Africa Finance Corporation (AFC) has raised CHF350 million, about $430 million, through a five year digital bond, marking a major step in the use of regulated digital financial infrastructure by an African institution.
The transaction is the first time an African institution has issued a digital bond that is listed, traded and settled on a regulated digital exchange. It is also the largest digital bond ever issued in the Swiss franc market, according to AFC.
Read also: africa-finance-corporation-unleashes-100m-to-break-foreign-grip-on-african-startups/
The deal strengthens AFC’s access to international investors as the Lagos based development finance institution seeks to diversify its sources of funding and raise more long term capital for infrastructure and industrial projects across Africa.
AFC is rated A with a positive outlook by S&P Global Ratings and A3 with a stable outlook by Moody’s Ratings, giving the institution an investment grade profile in international debt markets.
