New Issue: African Development Bank sells $1 billion 2 3/8% seven-year notes at 5 bps spread

By Aleesia Forni

Virginia Beach, Sept. 16 – African Development Bank priced $1 billion of 2 3/8% seven-year bonds (Aaa/AAA/AAA) at mid-swaps plus 5 basis points on Tuesday, a market source said.

Bookrunners were BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. and Nomura.

The issuer is a regional development lender with headquarters in Tunis, Tunisia.

Issuer:	African Development Bank
Amount:	$1 billion
Description:	Bonds
Maturity:	Sept. 23, 2021
Bookrunners:	BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., Nomura
Coupon:	2 3/8%
Spread:	Mid-swaps plus 5 bps
Trade date:	Sept. 16
Settlement date:	Sept. 23
Ratings:	Moody’s: Aaa
	Standard & Poor's: AAA
	Fitch: AAA

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