African Development Bank AfDB
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This week's funding scorecard looks at the progress various supranationals have made in their funding programmes. -
Nigeria’s Indorama Eleme Fertilizer & Chemicals has taken $1bn in debt financing, in the second use of the International Finance Corporation’s Managed Co-Lending Portfolio Programme in a week.
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This week's funding scorecard looks at the progress various supranationals have made in their funding programmes.
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The African Development Bank sold its second ever social bond on Wednesday, more than doubling the size of its debut effort and extending its maturity curve. The Basque Government will follow the supranational with its inaugural sustainable bond.
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Morocco has landed a €200m loan from the African Development Bank that will go towards the country’s agriculture industry, a sector that Standard & Poor’s recently said was part of the reason the sovereign’s credit rating remains “constrained”.
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The African Development Bank sold its second social bond on Wednesday, more than doubling the size of its debut effort and pushing out its maturity curve. The Basque Government will follow the supranational with an inaugural sustainable bond.
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The African Development Bank is sounding investors for its second ever social bond with an initial price thoughts level that bankers away from the deal felt was “fair”.
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The widening of the dollar Libor/Overnight Indexed Swap (OIS) spread may be one of the biggest talking points in bond markets but it is wrenching open funding opportunities for public sector borrowers. The accompanying widening in dollar swap spreads led two issuers to break new issue records, writes Craig McGlashan.
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The African Development Bank was awash with superlatives from SSA bankers watching on jealously as it printed a $2bn March 2021 global through mid-swaps on Wednesday. The supranational — like other SSAs in dollars this week — benefited from widening swap spreads that some analysts believe have further to go.
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Public sector borrowers found buckets of dollar demand on Tuesday, as a French agency sold its largest ever benchmark in the currency and a supranational printed a trade at the upper end of its historical size range. Another supra is lined up to test whether that demand will hold on Wednesday.
