African Development Bank AfDB
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Two of this week's benchmark issuers are planning second trips to the capital markets for benchmark funding in the third quarter. -
NRW.Bank will bring a no-grow $1bn three year dollar benchmark on Wednesday, after African Development Bank and Rentenbank on Tuesday comfortably raised dollars in longer tenors.
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A pair of public sector borrowers on Monday hit screens with mandates earlier in the day than usual, which bankers suggested was due to a desire to get ahead of other possible issuers.
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South African state-owned electricity firm Eskom has signed $1.34bn of loans, arranged by African Development Bank. The financing includes what four bankers said was the largest ever ‘B’ loan tranche.
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The former head of loan syndication at African Development Bank has left for a role at a developmental financial institution in Cairo.
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The African Development Bank printed an A$60m ($44m) tap of its June 2026 notes on Wednesday, as bankers predicted more Kangaroo issuance will follow this week.
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The response to some of this week’s dollar deals has got some bankers believing that next week’s US Federal Reserve meeting might not prove to be the market shutting millstone that it had promised to be just a few weeks ago.
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Kommunalbanken on Thursday sold its largest floating rate note ever — and the largest floater from an SSA since early March — as bankers away from the trade said the “stars aligned” for the issuer.
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A pair of public sector borrowers are lining up to sell dollar floating rate notes on Thursday, following a series of floating and fixed rate deals in the currency on Wednesday.
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Eskom, the South African state-owned electricity firm, is arranging a syndicated loan with a guarantee from African Development Bank (AfDB), and the deal could be as large as $1bn, said one banker this week.
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Issuers stormed out of the blocks with a set of deals across the curve this week, with factors including an increase in swap spreads on the short end, a positive feeling towards the US market since Janet Yellen’s statements in March and the start of the Japanese fiscal year all credited.
