African Dev Bank does SEK1bn ($157m) 5yr AAA green bond, its third to date

The African Development Bank (AfDB) last week issued its second Swedish Krona (SEK) Green Bond, for 1 billion Swedish Kronas and a five year term. Their bond last year was in floating rate format; this time it's a fixed rate bond of 1.75% (38.5 basis points above equivalent Swedish Government bonds).

 

Proceeds go to climate-change related project lending in Africa.

Swedish investors made up 85% of buyers; they included AP2, AP3, Landstinget Västmanland, SAAB Pensionsstiftelse, SEB Fonder, SPP/Storebrand, Svenska Kyrkan, and Systembolaget AB. Nordea Markets was the lead manager.