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AfDB sells record $660mn social bond in Australia as investors seek safe yield

African woman with basket on her head. Photo by Ariel Nathan Ada Mbita @ Unsplash
African woman with load on her head. Photo by Ariel Nathan Ada Mbita @ Unsplash
  • AfDB prices record A$1bn ($660mn) five-year social bond in Australia
  • Order books top A$2.6bn as demand surges for AAA debt

 

ABIDJAN, COTE D’IVOIRE – The African Development Bank has returned to Australia’s debt market with a record A$1 billion ($660 million) five-year social bond, riding strong global demand for highly rated supranational issuers.

The bond, sold in the so-called Kangaroo market – Australian dollar debt issued by foreign borrowers – underscores investors’ appetite for yield without sacrificing credit quality, amid continued volatility in global markets.

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