The first bond issue with sustainable development goals by the West African Development Bank (BOAD) was very successful among international investors. This issue of 750 million euros, with a maturity of 12 years, attracted more than 260 international investors (40% from the United Kingdom, 40% from Europe, 17% from the United States, 2% from Asia and 1% from the Middle East), including 75% from asset managers and 21% from institutional investors (banks, insurance companies and pension funds). It was oversubscribed 6 times, with a total demand of 4.4 billion euros

These bonds carry a 2.75% coupon and a spread of 300 basis points compared to the average market rate, MID-SWAP Euro at 12 years, which represents the lowest rate obtained by BOAD on the international financial market.

The program is part of a “Sustainability Bond Framework”, engaging BOAD in financing projects with a high social and environmental impact. The financial resources thus mobilized strengthen BOAD's capacity for action in priority sectors such as agriculture and food security, renewable energies, basic infrastructure, health, education and social housing

This operation, which is in line with the vision of the DJOLIBA strategic plan, comes after the appointment in August 2020 of Mr. Serge EKUE, former director of financing and investment activities for Natixis in London, as President of the West African Development Bank.

Commenting on this transaction, President EKUE said: “We are encouraged by the great reception we have received from investors. The very high quality of the order book and the significant level of oversubscription testify to the commitment of investors to the Bank's vision, and their confidence in the prospects for growth and prosperity in the UEMOA zone

About BOAD

BOAD is an international public institution whose member states are Benin, Burkina, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo and whose purpose is to promote the balanced development of the member states of the West African Economic and Monetary Union, and to contribute to the achievement of economic integration in West Africa. La Boad has been rated “BBB” by Fitch and “Baa1" by Moody's since 2015. Thanks to this rating, which ranks the institution among the best ratings in Africa, it has issued three USD bonds on the international financial market since 2016 for an amount of USD 2,430 million

For more information: https://www.boad.org/; Twitter: @boad_official — @PresidentBOAD