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African Export-Import Bank plans $1 billion syndicated loan, may include first offshore yuan tranche
The African Export-Import Bank is planning a $1 billion syndicated loan, which could mark its first foray into the offshore renminbi market by including an offshore yuan tranche. The three-year loan will comprise US dollar and offshore yuan tranches, with their sizes to be determined based on the syndication outcome. Bank of China and Standard Chartered Bank are serving as global coordinators for the facility, amid growing China-Africa trade ties.
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