Published on 9/16/2014 in the Prospect News Agency DailyProspect News Emerging Markets Daily.
New Issue: African Development Bank sells $1 billion 2 3/8% seven-year notes at 5 bps spread
By Aleesia Forni
Virginia Beach, Sept. 16 – African Development Bank priced $1 billion of 2 3/8% seven-year bonds (Aaa/AAA/AAA) at mid-swaps plus 5 basis points on Tuesday, a market source said.
Bookrunners were BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. and Nomura.
The issuer is a regional development lender with headquarters in Tunis, Tunisia.
Issuer: | African Development Bank
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Amount: | $1 billion
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Description: | Bonds
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Maturity: | Sept. 23, 2021
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Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., Nomura
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Coupon: | 2 3/8%
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Spread: | Mid-swaps plus 5 bps
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Trade date: | Sept. 16
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Settlement date: | Sept. 23
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Ratings: | Moody’s: Aaa
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| Standard & Poor's: AAA
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| Fitch: AAA
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