African Development Bank launches $2B, 5-year social bond with strong investor interest.
The African Development Bank (AfDB) has launched a $2 billion, five-year social bond, coinciding with its 60th anniversary. The bond offers a 3.500% coupon and attracted significant investor interest, closing with an order book exceeding $3.7 billion and participation from 66 investors. This issuance, AfDB's second USD Global Benchmark in 2024, underscores strong confidence in its AAA credit rating and commitment to sustainability, with 25% of investors focusing on ESG criteria.
September 12, 2024
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