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.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaAccording 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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