African Development Bank talks dollar notes at mid-swaps plus 7 bps

By Rebecca Melvin

New York, Sept. 12 – African Development Bank plans to price a U.S. dollar benchmark offering of five-year global Securities and Exchange Commission-exempt bonds (expected ratings: Aaa/AAA/AAA), with initial price talk at mid-swaps plus 7 basis points, according to a syndicate source on Wednesday.

Barclays, BNP Paribas, Goldman Sachs International, JPMorgan and TD Securities are the bookrunners for the deal.

Pricing is expected to take place on Thursday.

The issuer is a multilateral development bank based in Abidjan, Ivory Coast.

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