African Development Bank Launches $464 Million Kangaroo, Social Bond

African Development Bank (AfDB) President Akinwumi Adesina gestures as he addresses a news conference on the first day of the annual meeting of AfDB in Gandhinagar, India, May 22, 2017. REUTERS/Amit Dave - RTX36ZWZ

The African Development Bank said on Monday it is returning to the Australian capital market with the launch of a 5.5-year $464 million Kangaroo social bond.

The development bank said the deal was led by Nomura and RBC Capital Markets.

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It added that the second social bond, following a $3.1 billion 3-year issue launched last year to fight the coronavirus pandemic, will be used to improve access to electricity, water and sanitation, and other social programs in the continent.

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