African Development Bank to price $2 billion five-year notes to yield mid-swaps plus 5 bps

By Rebecca Melvin

New York, Sept. 13 – African Development Bank plans to price $2 billion of five-year Securities and Exchange Commission-exempt bonds (expected ratings: Aaa/AAA/AAA) with a yield of mid-swaps plus 5 basis points. Pricing is expected to take place later on Thursday, according to a syndicate source.

The yield was tightened during marketing from initial talk at mid-swaps plus 7 bps.

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

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

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