African Development Bank (AfDB) has issued a five-year global benchmark bond to raise two billion dollars.Information Guide Nigeria

The bond was issued on March 7, 2023, and will mature by March 14, 2028.

According to the bank, this is part of its funding strategy of issuing large liquid benchmark transactions. The issuance has a coupon of 4.375% and a re-offer price of 99.73%.

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INDEPENDENCE reports that the lead managers of the bond issued include Barclays, Deutsche Bank, J.P Morgan, Credit Agricole CIB, and T.D securities. The co-lead manager is CastleOak securities.NYSC Portal

Analysts believe the strong rating of Aaa/AAA and a stable outlook from Moody’s and S&P supported the large investor’s interest in the issuance, INDEPENDENCE reports.

EMEA had the highest at 64%, for the geographic distribution of investors, followed by Americans at 24% and Asia at 12% with Central banks/ official institutions being the highest investors.JAMB Result

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