The African Development Bank’s “Fight COVID-19” social bond has on Friday, 3 April 2020, listed on the London Stock Exchange (LSE), as the largest social bond ever issued in the capital markets. The issuance is a three-year maturity bond and the AFDB’s first issuance on the LSE available through the Sustainable Bond Market.
The bond which is launched to alleviate the impact of COVID-19 on Africa’s economies and livelihoods is oversubscribed and has successfully attracted $4.6 billion of interest in the book and raised an exceptional $3 billion. It garnered interest from central banks and official institutions, bank treasuries and asset managers including Environment, Social and Governance (ESG) investors.
Commenting on the monumental event, Anne-Marie Trevelyan, the International Development Secretary said that “the international community must work together to successfully tackle the coronavirus pandemic.” She added that the UK, along with partners like the African Development Bank and London Stock Exchange Group, is supporting the most vulnerable countries to invest in their own health systems and avoid economic hardship.”
Read more: Ventures Africa
