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African Development Bank launches $464 Kangaroo social bond - Reuters

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Akinwumi Ayodeji Adesina, President of the African Development Bank Group, attends a meeting of the 2020 African Economic Outlook report in Abidjan, Ivory Coast January 30, 2020. REUTERS/Luc Gnago

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

The development bank said the deal was led by Nomura (9716.T) and RBC Capital Markets.

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 programmes in the continent.

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African Development Bank launches $464 Kangaroo social bond - Reuters
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