Africa Finance Corporation 7.5% perpetual notes
Terms
Security information
- Coupon
- 7.5% confirmed
- Frequency
- Semi-annual confirmed
- Coupon dates
- 21 April and 21 October confirmedRead from the prospectus (offering circular).
- Day count
- 30E/360 confirmedRead from the prospectus (offering circular), not assumed.
- Maturity
- Perpetual — no maturity date confirmed
- Structure
- Perpetual — no maturity date; the issuer may repay it on the dates below confirmed
Identifiers
- ISIN (Reg S)
- XS2933422888 confirmed
- ISIN (Rule 144A)
- US00832XAA90 confirmed
- Currency
- USD confirmed
Issuer and ranking
- Issuer
- Africa Finance Corporation confirmed
- Type
- Supranational
- Sector
- Development finance
- Region
- Pan-African: 44 African member countries and three multilateral financial institutions confirmedRead from AFC prospectus of 16 Jan 2025 (7.50% perpetual notes): “the Issuer has 44 member countries”, all African, plus Africa Re, the African Development Bank and BADEA. A multilateral lender is owned by several states, so it has no single country of risk; it is listed under the Supranationals tab.
- Guarantee
- None confirmedThe notes are obligations of the issuer alone.
- Ranking
- Subordinated confirmed
Issuance
- Issued
- 21 January 2025 confirmed
- Outstanding
- US$500,000,000 confirmed
Early redemption
The issuer may repay this bond from the date below, at the price shown per 100, on 10 days’ notice. No yield is shown for this bond yet: see the note at the top of this page.
| From | Price | Basis |
|---|---|---|
| 21 January 2030 | 100 | from this date, on 10 days' notice — all, not some, at par plus accrued unpaid interest, at any time in the three months to the First Reset Date (21 Jan to 21 Apr 2030), and again in the three months before every later Reset Date (each five years); 10 to 60 days' notice |
Read from: Prospectus dated 16 Jan 2025, Condition 6.2 Optional Redemption.
Source document: Prospectus (offering circular)
Coupon, maturity, size and the terms shown are the values this site publishes for this bond, read from the same record the price page reads, and the document below is the source recorded against them. The interest dates and day count are read, not derived. The early-redemption schedule below is read from the same source; no yield is shown for this bond yet. A supranational lender has no single country of risk; the region shown is its membership as its own document states it.
Prospectus (offering circular) · dated 16 January 2025
https://registers.esma.europa.eu/publication/downloadFile?fileId=38041689&checksum=03d6246a0980a6eaca4cee61b7b53457
Linked, not hosted here: the document stays at the issuer, exchange or regulator that published it. All source documents, by country →
Open questions
Yield withheld. Perpetual, deeply subordinated hybrid: interest can be cancelled, the coupon resets in April 2030 and every five years after, and the notes are callable before each reset. A yield on these terms is not calculated here; the price is the dealer's. The price is shown; no yield is published for it until the reason above is resolved.
Other supranational Eurobonds on this site
- BOAD 5% 2027 · 27 July 2027
- AFC 2.875% 2028 · 28 April 2028
- TDB 4.125% 2028 · 30 June 2028
- AFC 5.55% 2029 · 8 October 2029
- AFC 5.375% 2031 · 23 June 2031
- BOAD 4.7% 2031 · 22 October 2031
- BOAD 2.75% 2033 · 22 January 2033
- BOAD 8.2% 2055 · 13 February 2055
- AFC 7.5% perpetual · Perpetual — no maturity date · this page
Live supranational Eurobond prices, all lines → · African supranational Eurobonds →
Where the numbers come from, and where the terms come from
The prices and yields at the top of this page are live and indicative. They are fetched when the page loads, from the same source as the price page, and no figure is stored in this page — so the two cannot drift apart. They are not an offer to trade.
Everything below the prices is different in kind. Terms are fixed when a bond is sold and change rarely, so they are stated here once, each with the document it was read from. If a term on this page ever disagrees with the price page, this page is the one to distrust.
Page last changed 2026-10-01.