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by Oleksandr Vynychuk

Oct 14, 2026 5:01 AM ET

UPDATE: African Development Bank € bmk 5yr Social Sr Unsec; Spread set at MS+10bp

IGC European Market: Deal Flow - SSA

Issuer	Term	Maturity	Size	Ranking	Type	ISIN	Guidance	Spread Set
African Development Bank	5yr	21-Oct-31	bmk	Sr Unsec	Fixed	XS3544706750	MS+11a	MS+10

Spread set at: 5yr: MS+10bp - Orderbooks in excess of €1.5bn (incl. €200m JLM)
Guidance: 5yr: MS+11a

Issuer: African Development Bank
Ticker: AFDB
Ratings: Aaa / AAA / AAA (all stable)
Format: Global (SEC exempt)
Size: € Benchmark
Settlement: 21-Oct-26 (T+5)
Maturity: 21-Oct-31 (5 years)
Coupon: Fixed, Annual, ACT/ACT ICMA
Spread set: MS + 10 bps
Denoms: 1k + 1k
Listing/Law: Luxembourg / English
Docs: Issuer’s Global Debt Issuance Facility, dated 8-Sep-09 (the “Programme”)
Leads: Barclays, Deutsche Bank, HSBC and Natixis
ISIN: XS3544706750
Timing: Books to close at 10.45 LDN / 11.45 CET
Target Market: The manufacturer target markets (UK MiFIR/MIFID II product governance) as assessed by the lead managers are eligible counterparties, retail and professional (all distribution channels).
UoP: An amount equal to the net proceeds of the Notes will be used to finance and/or refinance eligible social projects as further described in the Issuer’s Sustainable Bond Framework.