Chronicle Editor
Business Reporter
THE African Development Bank has launched and priced a US$2 billion five-year Global Benchmark bond due March 14, 2028, its first of the year.
The bond was issued on Monday this week as the regional financing institution continues to carry out its funding strategy of issuing large liquid benchmark transactions.
With the final order book closing in excess of US$3,5 billion and 95 investors participating, the AfDB has set the size of the transaction at US$2 billion.
The issue garnered interest from top quality investors with particularly good demand from central banks/official institutions, said the bank in a statement.
The bank’s mandate for a five-year USD Global Benchmark was announced on Monday and the deal has enjoyed good investor demand during the first afternoon and overnight with indications of interest reaching US$2,1 billion by the time books officially opened on Tuesday 7, March 2023, it said.
Online Reporter
Bongani Moyo