BOAD offers rare IG African 10 year to good reception

Africa_230
By Virginia Furness
20 Jul 2017

Investors jumped at the chance to buy rare longer dated investment grade African risk on Thursday enabling Banque Ouest Africaine de Développement (BOAD) to raise $850m with a 10 year benchmark on Thursday.

African supranational debt is a popular diversification play for buyers of African Eurobonds who tend to snap up the opportunity to diversify across ratings classes. Until now, the longest outstanding African supra bonds mature in 2024.

Leads Citi

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