Chicago, Sept. 15 – African Development Bank (Aaa/AAA/AAA) priced $2 billion global benchmark bonds due Sept. 16, 2022, according to a news release.
The issue priced at 99.843 for a yield of 1.679%.
Pricing came on top of initial spread talk at mid-swaps plus 13 basis points or Treasuries plus 8.75 bps.
This is the first dollar transaction for the bank in 2019 and the second global benchmark deal of the year.
Order books were in excess of $2.5 billion.
Joint lead managers for the offering were Citi, Daiwa, HSBC, J.P. Morgan Securities and Societe Generale.
The issuer is a multilateral development bank based in Abidjan, Ivory Coast.
| Issuer: | African Development Bank
|
| Issue: | Global benchmark notes
|
| Amount: | $2 billion
|
| Maturity: | Sept. 16, 2022
|
| Coupon: | 1 5/8%
|
| Price: | 99.843
|
| Spread: | Mid-swaps plus 13 bps or Treasuries plus 8.75 bps
|
| Bookrunners: | Citi, Daiwa, HSBC, J.P. Morgan Securities and Societe Generale
|
| Pricing date: | Sept. 11
|
| Announcement date: | Sept. 13
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
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