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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)
