African Dev’t Bank to issue Education Support Bond to Japanese investors in Africa

The African Development Bank (AfDB), on February 29, 2012 announced that it will offer an Education Support Bond to Japanese retail investors.

According to the Bank, the bond will be distributed by Tokai Tokyo Securities, Nishimura Securities, Banyo Securities and Rakuten Securities.

“The issuance of a 3-year TRY fixed rate note, a 5-year BRL fixed rate discount note, and a 5-year ZAR fixed rate discount note is being arranged by HSBC Securities (Japan) Limited,” said the AfDB in a statement.

The net proceeds of the issue will be used to fund projects in the field of education and hence foster economic and social growth in Africa, it added.

By purchasing the Education Support Bond, individual investors can indirectly support children in Africa and provide them with a better future, the AfDB said.

By Ekow Quandzie