The African Development Bank (AfDB) has launched a new $2 billion social benchmark bond, set to mature on September 18, 2029.
This bond is part of AfDB’s Sustainable Bond Framework, designed to support social development projects. Launched on September 10, 2024, the bond carries a 3.500% coupon with a re-offer yield of 3.574%.
This successful issuance, which celebrates AfDB’s 60th anniversary, attracted over 66 investors. ESG investors, making up 25% of the orders, demonstrated strong confidence in the bank’s sustainable bond framework. The bond had a final order book exceeding $3.7 billion, showcasing solid investor interest in AfDB’s AAA credit rating.
By issuing this five-year bond, AfDB strengthens its role in driving social development and continues to deliver liquid investment options in key benchmark maturities. This bond will be instrumental in funding projects that will positively impact communities across Africa.