Arab Finance: The African Export-Import Bank (Afreximbank) has been the Joint Global Coordinator for the Arab Bank for Economic Development in Africa's (BADEA) first three-year €500 million RegS-only senior unsecured social bond issuance, as per a press release.

This move comes within BADEA's newly established Euro Medium Term Note (EMTN) program, now listed on the London Stock Exchange (LSE).

Established in 1974, BADEA is a development finance institution created by 18 member countries of the League of Arab States (LAS) with a primary mission to provide targeted developmental financing to 44 non-Arab Sub-Saharan African countries.

As of June 2023, BADEA boasts total assets of $5.7 billion.

The bond issuance was 3x times oversubscribed, with an off-peak order book totaling €1.5 billion. Over 50 high-quality institutional investors, including central banks, development finance institutions (DFIs), fund managers, and commercial banks from Africa, the Middle East, Europe, the UK, and US offshore accounts, lent their support.

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