The African Development Bank (AfDB) has just issued a benchmark global bond of USD 2.5 billion over 5 years, or CFAF 1376.2 billion. The mandate for this bond was announced on Monday, March 15 with an initial price indication around Mid-swaps + 6 basis points.
 
Rated Aaa/AAA/AAA/AAA by international rating agencies, the AfDB executed the first benchmark bond of 2021 for an amount of USD 2.5 billion with a maturity date of March 23, 2026. The transaction generated strong demand from high-quality investors with indications of interest reaching USD 2.4 billion (excluding lead interests).
In a press release, the financial institution indicates that this new transaction represents the largest 5-year benchmark obligation, with the largest order book.
" With an order book of USD 3.6 billion (excluding lead interests) and the participation of 72 investors, the success of this transaction is a vote of confidence on the part of investors in the AfDB's AAA credit. Asset management and bank treasuries contributed significantly to the momentum of the operation and its success, illustrating a strong partnership with the AfDB ," the statement said.

For Hassatou Diop N'Sele, Treasurer of the African Development Bank Group, " this issue is our most important 5-year benchmark bond and the success of its execution reflects the growing interest of our international investor base in risk of afDB credit and the quality of its transactions". This transaction illustrates the diversity and quality of the AfDB's investor base, with a well-diversified distribution by geographical area and type of investor.