Latest news with #EuroMedium-TermNoteProgramme
Zawya
14-03-2025
- Business
- Zawya
Development bank BADEA prices its 3-year €750mln bond
The Arab Bank for Economic Development in Africa's (BADEA) has priced its 750 million euro Reg S three-year bond at mid-swap +75 basis points (bps), tighter than its price guidance. The coupon payable is 3% annually, with an issue date of 20 March 2025. Books were in excess of €1.9 billion. The initial price thoughts (IPTs) for the category 2 senior unsecured structure were in the area of MS Euro +90 bps. Banks mandated include the African Export-Import Bank, Citi, Deutsche Bank AG and J.P. Morgan as Joint Global Coordinators along with Emirates NBD Capital, Societe Generale and Standard Chartered Bank as Joint Bookrunners and Joint Lead Managers. Lazard and RB&A Partners are acting as financial advisors of BADEA. Headquartered in Khartoum, Sudan, BADEA is a development financial institution owned by 18 member countries of the League of Arab States (LAS), including the UAE and Saudi Arabia. It has been rated Aa1 (stable) by Moody's, AA (positive) by S&P and AAA (stable) by JCR. The bond issuance falls under BADEA's existing Euro Medium-Term Note Programme and will be listed on the main market of the London Stock Exchange. (Writing by Bindu Rai, editing by Brinda Darasha)
Zawya
13-03-2025
- Business
- Zawya
IPTs out for BADEA's 3-year Reg S euro bond
The initial price thoughts (IPTs) for the Arab Bank for Economic Development's category 2 Reg S senior unsecured structure are in the area of MS Euro +90 basis points (bps). The issue date for the three-year euro bond is 20 March 2025. Banks mandated include African Export-Import Bank, Citi, Deutsche Bank AG and J.P. Morgan as Joint Global Coordinators along with Emirates NBD Capital, Societe Generale and Standard Chartered Bank as Joint Bookrunners and Joint Lead Managers. Lazard and RB&A Partners are acting as financial advisors of BADEA. BADEA is a development financial institution owned by 18 member countries of the League of Arab States (LAS), including the UAE and Saudi Arabia, which is rated Aa1 (stable) by Moody's, AA (positive) by S&P and AAA (stable) by JCR. It has been rated Aa1 (stable) by Moody's, AA (positive) by S&P and AAA (stable) by JCR. The bond issuance falls under BADEA's existing Euro Medium-Term Note Programme and is subject to market conditions. (Writing by Bindu Rai, editing by Seban Scaria)
Zawya
11-03-2025
- Business
- Zawya
BADEA mandates banks for 3-year Euro bond
The Arab Bank for Economic Development in Africa (BADEA) has mandated banks for a three-year Euro Reg S bond. Banks mandated for the senior unsecured bond include African Export-Import Bank, Citi, Deutsche Bank AG and J.P. Morgan as Joint Global Coordinators along with Emirates NBD Capital, Societe Generale and Standard Chartered Bank as Joint Bookrunners and Joint Lead Managers. Lazard and RB&A Partners are acting as financial advisors of BADEA. BADEA is a development financial institution owned by 18 member countries of the League of Arab States (LAS), including the UAE and Saudi Arabia, which is rated Aa1 (stable) by Moody's, AA (positive) by S&P and AAA (stable) by JCR. The bond issuance falls under BADEA's existing Euro Medium-Term Note Programme and is subject to market conditions. (Writing by Bindu Rai, editing by Seban Scaria)
Gulf Business
28-01-2025
- Business
- Gulf Business
Saudi Arabia's PIF completes $4bn bond issuance
Saudi Arabia's Public Investment Fund (PIF) has announced the successful completion of a $4bn Reg S bond issuance. The proceeds will be used for general corporate purposes. The international bond offering, which is part of PIF's Euro Medium-Term Note Programme, was four times oversubscribed, with an order book totaling approximately $16bn. The issuance consists of two tranches: $2.4bn (SAR9bn), maturing in five years $1.6bn (SAR6bn), maturing in nine and a half years PIF bond oversubscribed The strong oversubscription highlights the effectiveness of PIF's capital-raising strategy. The issuance further reinforces PIF's robust financial standing and its adherence to best practices in debt financing. Ahmed Alrobayan, head of Public Markets, Global Capital Finance at 'These factors allow uninterrupted access to the global capital markets and support PIF's efforts in driving Saudi Arabia's economic transformation.' PIF holds an Aa3 rating from Moody's with a stable outlook, and an A+ rating from Fitch, also with a stable outlook. The
