Bond

The African Development Bank, rated Aaa/AAA/AAA by Moody’s/S&P/Fitch, has successfully priced a EUR 1 billion 10-year Global Benchmark, due 21 March 2029, its first benchmark transaction of the year.

The re-statement by Santander’s chief executive on the 2018 earnings call on January 30 of the group’s existing policy to call hybrid instruments on economic terms seems to have been accepted calmly.

Neuberger Berman, a private, independent, employee-owned investment manager, has launched a suite of European fixed income strategies for its recently-hired Paris-based team.

On Tuesday 27 November 2018, the African Development Bank rated Aaa/AAA/AAA by Moody’s/S&P/Fitch (all stable) successfully priced a dual-tranche US$ 500 million 3-year and US$ 100 million 2-year SOFR-linked Green bond, becoming the first issuer to bring to the market a SOFR-linked Green Bond transaction.

Demand from investors for this type of securities is explained by their attractive risk/return ratio. Indeed, even if yields depend on the issuing bank and the origin of the country, in general this yield offered is higher than that of government bonds issued for the same maturity in the same country.