The Africa Export-Import Bank (Afreximbank) raised $2 billion via a three-year dual-tranche syndicated loan, its largest-ever such transaction, it said on Monday.

• The issue raised $1.73 billion and 228 million euros, the Cairo-based lender said in a statement, which it will use to refinance existing facilities and cover general expenditures.
• The bank ⁠initially aimed to raise $1.5 billion, but ​lifted the total due to strong investor demand, ​it said. It did not provide a cost for the loan.
• A total of 31 lenders from Europe, the Middle East, Asia, and Africa participated in the deal.
• Mashreqbank PSC, MUFG Bank and Standard ‌Chartered ⁠Bank acted as joint global coordinators, lead arrangers and bookrunners in the transaction.
• Afreximbank has clashed with some in the international financial community over whether it has "preferred ⁠creditor status" or must take losses on loans to debt-defaulted countries, including Ghana and Zambia.
• Earlier ​this ⁠year, it severed ties with credit ratings firm Fitch, citing a "firm belief" that the agency's ⁠rating approach ​no longer reflected an ​understanding of the bank's mission and mandate.