Afreximbank’s Samurai Bond Success Nets JPY 81.8 Billion
The African Export-Import Bank (Afreximbank) has successfully concluded its second Samurai bond transaction, raising JPY 81.8 billion (approximately USD 527 million) through combined Regular and Retail Samurai offerings.
The deal surpasses the Bank’s 2024 debut issuance and signals sustained confidence from Japanese investors.
The latest issuance attracted orders from over 100 institutional and retail investors, reinforcing Afreximbank’s expanding footprint in Japan’s yen capital markets.
The transaction followed a series of investor engagement activities aligned with the Tokyo International Conference on African Development (TICAD9), including non-deal roadshows in Tokyo, Kanazawa, Kyoto, Shiga and Osaka, as well as a global investor call.
On 18 November, the Bank priced a JPY 45.8 billion three-year tranche in the Regular Samurai market. With expectations of a potential Bank of Japan rate hike, investor demand clustered around shorter maturities, resulting in a focused three-year tranche. Strong interest came from asset managers (22.3%), life insurers (15.3%), regional corporates and high-net-worth investors (39.7%).
Afreximbank also priced a JPY 36.0 billion three-year Retail Samurai bond on the same day—more than double the size of its inaugural JPY 14.1 billion retail offering in 2024. This marks Japan’s first Retail Samurai bond issuance of 2025.
The offering followed an amended shelf registration completed on 7 November, with SMBC Nikko Securities conducting a nationwide seven-business-day demand survey, followed by a six-business-day offering period.
The Bank’s visibility was boosted by its engagements around TICAD9, including hosting the Africa Finance Seminar, which introduced African development financing opportunities to Japanese institutional investors.
SMBC Nikko Securities Inc. acted as Sole Lead Manager and Bookrunner for both the Regular and Retail Samurai transactions.
Chandi Mwenebungu, Afreximbank’s Managing Director for Treasury & Markets and Group Treasurer, said the outcome reflects the Bank’s strengthening relationship with Japanese investors.
“The strong demand demonstrates sustained confidence in Afreximbank’s credit and mandate. We remain committed to deepening our engagement in the Samurai market,” he said.
The successful issuance reinforces Afreximbank’s strategy of diversifying funding sources while bolstering partnerships with international capital markets to support trade and development across Africa.
