African Development Bank AfDB

The European Investment Bank this week brought its first dollar floating rate note linked to the Secured Overnight Financing Rate (Sofr) — the likely replacement for dollar Libor — and set two landmarks for the fledgling benchmark. But one of those, on the coupon calculation, truly sets it apart from the other Sofr FRNs to come so far. As Craig McGlashan reports, it also creates an intriguing market choice as the financial sector prepares for a world without Libor.

The African Development Bank will look to issue its first bonds in renminbi and Zambian kwacha next year.

The African Development Bank and Nederlandse Waterschapsbank were able to sell a pair of oversubscribed no-grow $500m socially responsible deals on Tuesday, despite tougher market conditions as the end of the year approaches.

The African Development Bank issued the first green bond linked to the Secured Overnight Financing Rate (Sofr) on Tuesday. The European Investment Bank will look to extend the Sofr floating rate note curve on Wednesday with an October 2021 issue that will use a different coupon formula to the previous Sofr trades.

The African Development Bank mandated banks on Monday for the first green bond linked to the Secured Overnight Financing Rate, Sofr.

This week's funding scorecard looks at the progress supranationals have made in their funding programmes.

More supranational banks will use synthetic securitization and other risk transfer techniques, specialists believe, after the African Development Bank’s trailblazing $1bn deal, revealed this week, writes Jon Hay.

The African Development Bank’s $1bn synthetic securitization is not its first risk transfer transaction, and will not be its last. The bank has marked itself out as a leader in this sphere, though the effort to get such techniques to work is also highly collaborative.

The European Commission has unveiled a portfolio of financial guarantee transactions it is doing to support development in Africa and regions bordering the EU. Among them are two programmes conducted by the African Development Bank, including its new synthetic securitisation.

The African Development Bank has become the first supranational bank to use a securitization sold to private investors to free up balance sheet capacity. The deal, four years in the making, demonstrates a new technique that could expand development banks’ firepower to promote development.

The African Development Bank is planning to issue its first benchmark syndicated green bond since 2015, in what is likely to the issuer’s final syndication of the year

The African Development Bank is preparing to launch a Panda bond programme, following the inclusion of the renminbi in the valuation basket of the issuer’s reporting currency.