Afreximbank talks $250 million tap of 4% notes due 2021 at mid-swaps plus 250 bps area

By Paul A. Harris

Portland, Ore., Sept. 14 – Afreximbank, the African Export-Import Bank, (Baa2//BBB-) talked a $250 million tap of its 4% notes due 2021 in the mid-swaps plus 250 basis points area, according to a market source.

The Cairo-based international bank, which specializes in trade-related financing for Africa, priced the original $750 million issue at 98.982 to yield 4.228% on May 17, 2016.

Those notes currently trade at a spread of 244 bps, the source said.

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