Afreximbank disburses $980m for Oryx Energies buyout
Financing · completed$975mWednesday 28 October 2026
Afreximbank, as sole lender, has disbursed $980 million to part-finance the management buyout of Oryx Energies SA, the holding company of Addax Energy. The deal brings Oryx under majority African ownership for the first time.
A large development-bank loan for an African-owned energy buyout shows DFIs financing major private transactions.
Afreximbank is raising a $1 billion syndicated loan that includes a tranche denominated in yuan, according to a paywalled report. The deal diversifies the bank's funding sources beyond dollar and euro markets.
Afreximbank's net income rose 24% to $810 million in the nine months to September 2026, while net loans and advances grew 8% to $36 billion. Shareholders' funds reached $9 billion, supported by retained profits and $200 million of new equity.
The African Development Bank announced it successfully completed its first dirham-denominated bond, worth about $100 million (MAD 1bn), as a private placement with qualified investors. The issue lets the institution diversify its Moroccan funding, which has mainly been in euros and dollars.
The African Development Bank issued a about $250 million (HKD 2bn) five-year social bond due 2031 on 28 October. It is the institution's second public Hong Kong dollar Wonton transaction.
The African Development Bank launched a HKD 2 billion five-year social bond due November 2031. The issue is a social bond placed in Hong Kong's market.
Africa Finance Corporation and Munich Re have signed a $1 billion risk-sharing programme covering AFC's trade finance lending to African banks. The first phase covers 38 financial institutions in 11 African countries.
The African Development Bank raised $2.5 billion through a three-year benchmark bond priced on 21 October, with a 4.875% coupon and orders of $4.8 billion. Settlement is scheduled for 2 November 2026.
