Africa Finance Corporation issues $150 million maiden Sukuk

Africa Finance Corporation issues $150 million maiden Sukuk

Africa Finance Corporation (AFC)), a leading pan-African multilateral development finance institution and project developer, has issued its maiden Sukuk, the highest-rated Sukuk issuance from an African institution. Following high levels of investor interest, the initial target of $100 million was more than twice oversubscribed, resulting in the transaction being upsized to $150 million and a final order book of approximately $230 million.