The African Development Bank has launched a $2bn social global bond due 25 February 2027.
The Continental Development Bank said that the transaction was its first social bond issued under its new Sustainable Bond Framework, established in September 2023.
The bond comes with a 4.125 per cent three-year tenor.
AfDB is rated Aaa/AAA/AAA/AAA by Moody’s, S&P, Fitch and Japan Credit Rating, as stable.
The bank said, “Sustainable bond programme seamlessly consolidates and enhances the African Development Bank’s existing Green and Social Bond programmes, facilitating the issuance of green bonds, social bonds, and sustainability bonds.
“This new 3-year Social Benchmark is the bank’s first global benchmark of the year, strategically aligned with the robust reopening of primary markets in January 2024. This issuance is a significant highlight amid a dynamic week in the USD SSA markets, witnessing the launch of 8 benchmarks totalling $17.25bn within two days.”
