The African Development Bank has announced the successful launch and pricing of a new $2bn five-year social benchmark bond, which is set to mature on September 18, 2029. A social benchmark bond is a type of bond issued specifically to raise funds for social projects and initiatives.
According to the bank, this issuance coincides with its 60th anniversary. The bond, which was launched on September 10, 2024, features a coupon of 3.500 per cent, with a re-offer yield of 3.574 per cent and a re-offer price of 99.664 per cent.
The AfDB said in a Thursday statement that this five-year transaction, issued under its Sustainable Bond framework, represents the bank’s second USD Global Benchmark for 2024, following a similar issuance in January.
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