The African Development Bank’s (AfDB) $3 billion ‘Fight COVID-19’ social bond has listed on the London Stock Exchange (LSE), thus making it available to investors through the Sustainable Bond Market (SBM).
This is the first bond from AfDB to list on London Stock Exchange, and the largest to be admitted to London’s Sustainable Bond Market.
We welcome the first bond from African Development Bank to list on our market and support them in their vital efforts to mitigate the impact of COVID-19 across Africa. This bond highlights the important role that social and sustainability bonds can play in directing funding to those countries, sectors and people across the world heavily impacted by this pandemic.Nikhil Rathi, CEO, London Stock Exchange and Group Director of International Development
LSE reports that AfDB’s bond is the second recently admitted to the Exchange from multinational issuers whose proceeds seek to mitigate the impact of COVID-19. The first was from the International Finance Corporation (IFC) – a $1 billion issue which forms part of its $8 billion financing package to combat the economic impact of COVID-19.
Furthermore, as part of its commitment to provide issuers with access to capital markets, London Stock Exchange reiterates that it will admit eligible social and sustainability bonds whose proceeds are aligned towards mitigating the impact of COVID-19. The exchange will not charge admission fees for these bonds for an initial period of three months, commencing on 3rd April 2020.