19/01/2017 - On Tuesday, January 17, 2017, the African Development Bank (AfDB), rated Aaa / AAA/ AAA by Moody's / S&P / Fitch (all stable), successfully launched a EUR 1 billion 7-year Benchmark transaction due January 24, 2024. The issue priced at 3 bps through Mid-Swaps, equivalent to a spread of 45.5 bps over the DBR 1.750% February 2024. This represents AfDB's first ever 1 billion EUR benchmark transaction following from its debut EUR 10-year issue in October last year. Despite a heavy week of supply in the Supra, Sovereign and Agency space, AfDB took advantage of a short window of execution ahead of the ECB meeting on Thursday to bring this successful transaction to market.
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