Regional: AfDB sells $90m bond to Dai-ichi Life Insurance

Issue 356 - 27 Oct 2017 | 1 minute read
The African Development Bank has issued an SEK733m ($89.3m) Light Up and Power Africa bond, sold exclusively to Japan’s Dai-ichi Life Insurance Company Ltd. The funds will be used in the ordinary operations of the bank with an equal amount directed towards programmes investing in the power sector across the continent in line with the bank’s aim to achieve universal electricity access in Africa by 2025. The ten-year bond was a private placement settled on 21 September 2017 with Deutsche Bank as the sole arranger.

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