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African Development Bank pricing $2 billion bonds due January 2027
By William Gullotti
Buffalo, N.Y., Nov. 21 – African Development Bank (Aaa/AAA/AAA) intends to price a $2 billion benchmark offering of global SEC-exempt bonds due Jan. 4, 2027 as Tuesday business, according to a market source.
The bonds were launched at SOFR mid-swaps plus 36 basis points after initial talk in the SOFR mid-swaps plus 37 bps area.
Final books closed in excess of $3.3 billion, up from $1.6 billion on Monday and $2.7 billion prior to closing at 9 a.m. ET on Tuesday.
BMO, BNP Paribas, Citigroup, JPMorgan and Wells Fargo are lead bookrunners, with BMO handling billing and delivery.
Settlement is expected on Nov. 29.
The bonds will be listed in Luxembourg.
The issuer is a multilateral development bank based in Abidjan, Ivory Coast.
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