NAIROBI, March 30 (Reuters) - 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, theCairo-based lender said in a statement, which it will use torefinance existing facilities and general expenditures. * The bank initially aimed to raise $1.5 billion, but liftedthe total due to strong investor demand, it said. It did notprovide a cost for the loan. * A total of 31 lenders from Europe, the Middle East, Asiaand Africa participated in the deal. * Mashreqbank PSC, MUFG Bank and Standard Chartered Bankacted as joint global coordinators, lead arrangers andbookrunners in the transaction. * Afreximbank has clashed with some in the internationalfinancial community over whether it has "preferred creditorstatus" or whether it must take losses on loans todebt-defaulted countries, including Ghana and Zambia. * Earlier this year, it severed ties with credit ratingsfirm Fitch, citing a "firm belief" that the agency's ratingapproach no longer reflected an understanding of the bank'smission and mandate.(Reporting by Duncan Miriri; Editing by Libby George and Rod Nickel)
