The African Development Bank (AfDB), has issued a new benchmark bond of US$2 billion (CFAF 1,177.001 billion) with a maturity of three years maturing on September 16, 2022, with a coupon of 1.625%.

Ay/AAA/AAA rating by international rating agencies (Moody's, S&P, Fitch), the AfDB executed on Wednesday, this bond issue which is the second benchmark bond issued by the bank this year.

This transaction follows the €1 billion 10-year benchmark bond issue executed in March 2019. With this new issue, the Bank is successfully pursuing its strategy of conducting more liquid transactions in the U.S. market, according to a note sent to APA.

Since early 2019, the AfDB has raised $4.4 billion in capital markets, or 61% of its 2019 borrowing program. This new bond issue generated strong investor demand, with an order book reaching $2.8 billion.

Ready this bond issue is at a record high against the benchmark US Treasury bond, as the tightest ever obtained by the Bank on such a maturity. 53 global investors, including 7 new to the institution, participated in the transaction.

"We are very pleased with the success of this benchmark dollar bond issue, and particularly satisfied with the very high quality of the order book, but also with the strong participation of African central banks in this transaction", says Hassatou Diop N'Sele, Treasurer of the AfDB Group.

"The AfDB, through this issue, has achieved the lowest margin against the US Treasury bond historically, and we thank all our investors for this exceptional result, and through it, for the financing that will be granted to the continent African. " said Hassatou N'Sele.