African Export-Import Bank (Afreximbank), working with other mandated lead arrangers, has successfully closed a US$1.75 billion syndicated receivables purchase facility for Sonangol, Angola\u2019s national oil company.
The strategic financing will support Sonangol\u2019s projected operating and capital expenditure requirements, while advancing Afreximbank\u2019s mandate to promote African-led financing models that support growth, industrialisation, economic self-reliance, and sovereignty.<\/p>\n\n\n\n
Afreximbank played a catalytic, balance-sheet-led role in the financing, structuring, and syndication of the facility, which is designed to provide sustainable funding to the Angolan oil and gas sector while ensuring strong repayment assurance for lenders. In line with the Bank\u2019s strategy of supporting African business champions in strategic sectors, Afreximbank helped design an innovative, de-risked structure that mitigates oil price volatility and allows for flexible security arrangements.<\/p>\n\n\n\n
The US$1.75-billion facility is expected to enable Sonangol to meet its operating and capital needs by strengthening export-linked trade structures, supporting Afreximbank\u2019s objective of increasing Africa\u2019s share of global trade and reinforcing the export of strategic commodities.<\/p>\n\n\n\n
Commenting on the transaction, Mr. Haytham Elmaayergi, Executive Vice President, Global Trade Bank, Afreximbank, said: \u201cThis US$1.75 billion syndicated receivables facility underscores Afreximbank\u2019s commitment to supporting African energy champions and safeguarding export capacity that is critical to our member states\u2019 macroeconomic sovereignty and trade resilience. By deploying innovative structures that provide comfort to lenders while easing traditional security requirements, we are able to crowd source much needed capital into strategic sectors.\u201d
He added: \u201cThe transaction will help Sonangol meet its operating and capital needs, sustain export flows, increase energy availability, and support Angola\u2019s broader industrialisation and economic transformation, while directly contributing to increased African participation in global trade.\u201d<\/p>\n\n\n\n
The facility is expected to support Angola\u2019s economic development by enabling the extraction and commercialisation of natural resources, strengthening export proceeds, and reinforcing industrialisation and value creation across the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"