Arab Bank for Economic Development in Africa's Inaugural Reg-S Only Social Bond Rated 'AA'

S&PGR Rates BADEA's Inaugural Bond 'AA' Arab Bank for Economic Development in Africa (BADEA) issued a three-year, senior unsecured, unconditional, unsubordinated, fixed-rate bond on Jan. 18, 2024. The issuance amounted to €500 million, with proceeds intended to finance new and existing euro-denominated loans to sub-Saharan African borrowers. We assigned our 'AA' issue rating to the bond. JOHANNESBURG (S&P Global Ratings) Jan. 22, 2024--S&P Global Ratings today assigned its 'AA' long-term issue rating to the €500 million, three-year senior unsecured bond issued by BADEA (AA/Positive/A-1+). The bond is a direct, unconditional, unsubordinated, and unsecured obligation of BADEA and will rank at the same seniority as BADEA's other unsecured obligations. The proceeds will be used to finance eligible green and social projects

...January 22, 2024 S&PGR Rates BADEA's Inaugural Bond '##' - Arab Bank for Economic Development in Africa (BADEA) issued a three-year, senior unsecured, unconditional, unsubordinated, fixed-rate bond on Jan. 18, 2024. - The issuance amounted to 500 million, with proceeds intended to finance new and existing euro-denominated loans to sub-Saharan African borrowers. - We assigned our '##' issue rating to the bond. JOHANNESBURG (S&P Global Ratings) Jan. 22, 2024--S&P Global Ratings today assigned its '##' long-term issue rating to the 500 million, three-year senior unsecured bond issued by BADEA (##/Positive/A-1+). The bond is a direct, unconditional, unsubordinated, and unsecured obligation of BADEA and will rank at the same seniority as BADEA's other unsecured obligations. The proceeds will be used to finance eligible green and social projects across sub-Saharan Africa (SSA) under BADEA's newly established sustainable finance framework. BADEA also intends to reduce foreign exchange mismatches...

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