In a year that saw continued momentum for ESG-labelled debt across global capital markets, the African Development Bank’s (AfDB) landmark $2 billion three-year social bond stood out as one of Africa’s most strategically important sustainable finance transactions.
Priced on January 18, 2024, the deal not only marked the AfDB’s first global benchmark of the year, but also its inaugural social bond under its newly unified sustainable bond framework.
Crédit Agricole was sustainable structuring bank on the new sustainable bond framework and joint bookrunner on the transaction, alongside BNP Paribas, Bank of America Securities, JPMorgan and Nomura.
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