African Development Bank
This is the largest dollar denominated Social Bond ever launched in international capital markets to date, and the largest US Dollar benchmark ever issued by the bank. It will pay an interest rate of 0.75%, the bank said in the statement. “This is indeed the largest dollar social bond transaction to date in capital markets. We are here for Africa, and we will provide significant rapid support for countries.”
Coronavirus cases were slow to arrive in Africa, but the virus is spreading quickly and has infected over 4,000 people across 45 countries, placing strain on already fragile health systems. Commenting on the landmark transaction, George Sager, Executive Director, SSA Syndicate, Goldman Sachs, said: “In a time of unprecedented market volatility, the African Development Bank has been able to brave the capital markets in order to secure invaluable funding to help the efforts of the African continent’s fight against Covid-19.
In 2018 the bank was designated by financial markets, ‘Second most impressive social or sustainability bond issuer” at the Global Capital SRI Awards.
How much is it lets invest to fight this COVIK 1, 9
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