Cades and IDA set new size records

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By Burhan Khadbai
17 Sep 2020

Caisse d’Amortissement de la Dette Sociale (Cades) and the International Development Association set new size records this week, with the former bringing the biggest ever social bond in dollars and the latter issuing its biggest ever bond since entering the capital markets in 2018.

Cades raised $4bn on Tuesday with a 0.375% September 2025 social bond at mid-swaps plus 16bp, 1bp inside of guidance, with a book of over $6.5bn via BNP Paribas, Crédit Agricole, HSBC and JP Morgan,

It was Cades’ first ever dollar social bond after it ...

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