Sunday, January 25, 2009

AfDB Executes US$1 Billion Bond Issue

The AfDB on January 13, 2009, successfully executed a US$ 1 billion benchmark global bond issue in the international market. The 3-year bond, lead-managed by BNP Paribas, Citi and Goldman Sachs, was issued under the Bank’s US$ 3.7 billion 2009 borrowing program. It was priced at mid-swap + 40 basis points and carries a coupon of 1.875%.

The Bank’s issue was made on the back of successful road shows in Europe, the Middle East and Asia and followed from a careful monitoring of the market and positive feedback from investors. The successful outcome of this transaction is credit to the standing AfDB holds in the capital markets.