The African Development Bank launches a new HKD 2 billion 5-year 4.143% Social Wonton Bond due November 2031
Cote Dlvoire, Oct. 29 -- On Wednesday 28 October, the African Development Bank ("AfDB"), rated Aaa/AAA/AAA/AAA (Moody's/S&P/Fitch/JCR) successfully issued a new HKD 2 billion 5-year benchmark transaction in Social format (the "Wonton Bond"), marking its second public HKD Wonton transaction following the inaugural HKD 3 billion 3.25-year Wonton priced in March.Against a backdrop of geopolitical uncertainty and the resulting interest rate volatility, the Bank capitalised on a favourable issuance window ahead of a busy macroeconomic calendar. The transaction attracted predominantly Hong Kong-based investors (97% of allocations). Bank treasuries represented the largest share (91%), followed by asset managers/fund managers (9%).The mandate was a...
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