AfDB Secures $2.5 Billion in Global Bond Issuance

The African Development Bank (AfDB) has successfully raised $2.5 billion through a three-year global benchmark bond, with investor orders totaling $4.8 billion, nearly double the issued amount. The bond was priced on October 21, 2026, and is set to mature on January 18, 2030, featuring a fixed coupon of 4.875%.

This issuance marks the AfDB's third US dollar benchmark issuance for the year, following a $1 billion 10-year bond in January and a $2 billion five-year bond in February. The bond was priced at a spread of 28 basis points above SOFR mid-swaps, which is two basis points tighter than the initial guidance of 30 basis points, indicating strong investor demand.

The transaction was announced on October 20, 2026, using the US Treasury security maturing on October 15, 2029, as its benchmark. The AfDB's international bond issuances are part of its funding program to support operations and development priorities across Africa.