Global law firm Ashurst has advised longstanding client, the Africa Finance Corporation (AFC) on the raising of a US$246 million Kimchi loan facility, the latest significant financing in the African market.
This is AFC's largest Kimchi loan to date, following successful Kimchi loans in 2019 and 2022. This financing further strengthens AFC's relationship with South Korea's banks and demonstrates its success in attracting diverse global capital.
A global syndicate of 11 lenders provided the debt, the proceeds of which will be used to finance AFC's infrastructure, trade and impact development initiatives across the African continent.
The team was led by partner Matthew Wood, supported by associate Edgar Thornton and trainee solicitor Ben Brindley.
