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Afreximbank mandates banks ahead of possible benchmark deal
By Paul A. Harris
Portland, Ore., May 9 – African Export-Import Bank mandated MUFG as global coordinator and Barclays, HSBC, MUFG, Rand Merchant Bank and Standard Chartered Bank as joint lead managers and active bookrunners to conduct a series of meetings with fixed income investors in Asia, Europe and the Middle East starting on Thursday, according to a market source.
A benchmark-size and dollar-denominated bond offering may follow, subject to market conditions.
The supra-national financial institution, based in Cairo, is rated Baa2 by Moody's Investors Service, and BBB- by Fitch Ratings.
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