Chicago, Oct. 26 – African Development Bank priced $2 billion of 4 3/8% global bonds with a five-year tenor (Aaa/AAA/AAA) on Wednesday, according to a market source.
The bonds priced at 99.632 to yield 4.458%, or at SOFR mid-swaps plus 50 basis points. The notes were being talked in the 51 bps area over SOFR mid-swaps.
Final books went over $3.3 billion.
BofA Securities, BNP Paribas (billing and delivery), Goldman Sachs International, HSBC and Nomura are leading the sale.
The notes will be listed on the Luxembourg Stock Exchange.
The issuer is a multilateral development bank based in Abidjan, Ivory Coast.
| Issuer: | African Development Bank
|
| Amount: | $2 billion
|
| Issue: | Global bonds
|
| Maturity: | Nov. 3, 2027
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| Bookrunners: | BofA Securities, BNP Paribas, Goldman Sachs International, HSBC and Nomura
|
| Coupon: | 4 3/8%
|
| Price: | 99.632
|
| Yield: | 4.458%
|
| Spread: | SOFR mid-swaps plus 50 bps
|
| Trade date: | Oct. 26
|
| Settlement date: | Nov. 3
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | Global SEC-exempt
|
| Price talk: | SOFR mid-swaps plus 51 bps area
|
| ISIN: | US00828EEP07
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