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Arab Bank for Economic Development preps debut social bond deal
Chicago, Jan. 8 – Arab Bank for Economic Development in Africa (Badea) will be holding a global investor call on Wednesday for a debut social bond offering (Aa2/AA) , according to a market source.
The euro-denominated senior bonds will be distributed through Regulation S only.
African Export-Import Bank, Citi, Deutsche Bank AG and J.P. Morgan will be the joint global coordinators.
Emirates NBD Capital, Societe Generale and Standard Chartered Bank have been given the mandate as joint bookrunners and joint lead managers.
J.P. Morgan is the sole sustainable structuring agent.
A second-party opinion was delivered by ISS.
Fixed-income investor meetings started on Monday.
Based in Khartoum, Sudan, Badea is a financial institution owned by 18 Arab countries that are a part of the League of Arab States.
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