The African Development Bank launches USD 2.5 billion 4.875% long 3-year Global Benchmark due January 2030
Cote Dlvoire, Oct. 23 -- On Wednesday 21st October, the African Development Bank ("AfDB"), rated Aaa/AAA/AAA/AAA (Moody's/S&P/Fitch/ /JCR) successfully priced a new USD 2.5 billion long 3-year Global Benchmark due January 2030. This marked the Bank's third USD benchmark of the year, following the USD 1 billion 10-year and USD 2 billion 5-year benchmarks issued in January and February, respectively.The issuance was announced at 10.30 UKT on Tuesday 20th October, releasing Initial Price Thoughts (IPTs) of SOFR Midswaps +30 basis points (bps) area, equivalent at the time to a spread of 10.9bps area over the 3-year US Treasury reference benchmark.Despite market volatility, the transaction saw strong momentum overnight, with indications of inter...
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