AfDB Secures USD 1 Billion in Record-Demand Global Bond Sale
The African Development Bank (AfDB) has successfully launched a USD 1 billion 10-year Global Benchmark bond due January 2036, marking its first US dollar benchmark issuance of 2026.
Priced on 14 January, the bond carries a fixed coupon of 4.125 per cent and attracted an order book of USD 6.4 billion, the largest ever for a single-tranche issuance by the Bank. Strong global demand enabled AfDB to tighten pricing by 4 basis points from initial guidance, achieving a final spread of 7.8 basis points over US Treasuries.
The transaction drew broad-based participation from high-quality investors, including central banks and official institutions, asset managers and commercial banks, reflecting continued confidence in the Bank’s Aaa/AAA/AAA credit ratings.
Jointly led by Bank of America Securities, BNP Paribas and Morgan Stanley, the bond will settle on 22 January 2026 and mature on 22 January 2036. AfDB said the successful issuance highlights its strong market access and ability to secure efficient funding amid changing global rate conditions.
