AfDB launches $1b global benchmark

The African Development Bank (AfDB) on January 16, 2012 launched and priced a $1 billion fixed rate US Dollar Global benchmark which is due March 15, 2018.

The deal pays a coupon of 0.875% and a spread of 5 basis points over Mid-Swaps, equivalent to 20.45 basis points over the UST 0.75% due December 31, 2017, the AfDB says.

BNP Paribas, Deutsche Bank, J.P. Morgan and Nomura acted as joint Lead Managers on the transaction, according to officials.

The AfDB in a statement said the order book was officially opened early morning in London on Wednesday January 16, 2013.

By Ekow Quandzie