By Rebecca Melvin
New York, May 20 – West African Development Bank priced a $100 million add-on to its ¾% notes due April 3, 2023 at 101.024, according to a term sheet.
The notes will be consolidated to form a single series with $3 billion of the global notes that were issued April 3.
The notes are non-callable and listed on the Luxembourg Stock Exchange and the London Stock Exchange.
Scotiabank Europe plc was the dealer for the non-syndicated deal.
The proceeds of the issue are earmarked for development outcomes as described in the issuer’s social bond framework.
The Lome, Togo-based lender is a regional development bank for states of the West African Economic and Monetary Union.
| Issuer: | Banque Ouest Africaine de Developpement (West African Development Bank)
|
| Amount: | $100 million
|
| Maturity: | April 3, 2023
|
| Description: | Senior notes
|
| Dealer: | Scotiabank Europe plc
|
| Coupon: | ¾%
|
| Price: | 101.024
|
| Call option: | Non-callable
|
| Issue date: | May 15
|
| Total deal size: | $1.1 billion
|
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