Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Fixed Income

African Development Bank Issues $2 Billion 5-Year Global Benchmark Bond

Cees HarmonbyCees Harmon
2 weeks ago
in Fixed Income, Markets, Securities
Akinwunmi Adesina, Afdb, Africa’s GDP could fall by 3.4% in 2020 if COVID-19 continues – AFDB

Akinwumi Adesina, President of AfDB

Share on FacebookShare on TwitterShare on Linkedin

The African Development Bank (AfDB) has issued a $2 billion 5-year Global Benchmark bond due on March 14, 2028, marking its first bond issue of the year.

The bond was issued on March 7, 2023, and drew an order book of more than $3.5 billion from 95 investors, including Central Banks and Official Institutions. The raise is part of the bank’s funding strategy of issuing large liquid benchmark transactions.

According to the bank, the deal garnered good investor demand during the first afternoon and overnight, with indications of interest reaching $2.1 billion by the time books officially opened on March 7, 2023.

The final order book exceeded $3.5 billion by 10:28 am London time, which allowed the spread to be tightened by 2bps and set at SOFR mid-swaps + 33bps. The transaction was officially launched at 12:54 London time with a size of $2 billion, with the Americas books set to go subject at 13:30 London time. The bond officially priced at 5:58 pm London time at SOFR mid-swaps plus 33bps, equivalent to a reoffer yield of 4.435% and a spread of 14.3bp vs the on-the-run 5-year US Treasury.

The lead arrangers to the deal include Barclays, Crédit Agricole CIB, Deutsche Bank, J.P. Morgan, TD Securities.

Why is ADB issuing this bond?

The African Development Bank (AfDB) is issuing this bond as part of its funding strategy to raise capital for its operations and lending activities in Africa.

As a multilateral development bank, the AfDB is dedicated to promoting sustainable economic development and reducing poverty on the African continent.

The proceeds from the bond issuance will be used to finance various projects and programs in sectors such as infrastructure, agriculture, health, and education, among others.

This latest bond issuance is expected to help the AfDB continue to deliver on its mission of supporting African countries in achieving their development goals.

Related

Leave a Reply Cancel reply

fidelity banner
Press one
Mega Millions
SME
hfm
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • 2023 election: US condemns violence, voter intimidation, to apply sanctions, visa ban on culprits
  • 2023 general election: Tinubu condemns isolated infractions, violence, says healing process must start now
  • WIA Young Leaders will select women for an exclusive business trip, mentorship   

Follow us on social media:

Recent News

2023 election: US condemns violence, voter intimidation, to apply sanctions, visa restrictions on culprits

2023 election: US condemns violence, voter intimidation, to apply sanctions, visa ban on culprits

March 21, 2023
2023 general election: Tinubu condemns isolated infractions, violence, says healing process must start now

2023 general election: Tinubu condemns isolated infractions, violence, says healing process must start now

March 21, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions
  • 2023 Elections

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!