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African Development Bank plans Thursday pricing of new social bonds
Chicago, Jan. 17 – African Development Bank is taking indications of interest for a new dollar-denominated benchmark-sized social bond offering (Aaa/AAA/AAA) that is expected in the Thursday market, according to a market source.
The global SEC-exempt notes have initial talk in the mid-swaps plus 33 basis points area.
The maturity date will be Feb. 25, 2027.
BNP Paribas, BofA Securities, Credit Agricole CIB, JPMorgan and Nomura are leading the sale.
Proceeds will be applied toward eligible social projects.
Settlement is expected on Jan. 25 and then the notes will be listed in Luxembourg.
The issuer is a multilateral development bank based in Abidjan, Ivory Coast.
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