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The OPEC Fund for International Development (OFIDEV), rated AA+ / AA+ (S&P / Fitch, both stable), has mandated a no-grow €500 million five-year fixed rate benchmark transaction. IPTs for the issuance are at mid-swap +29 bps.
The expected issue rating is in line with the issuer’s, with BofA Securities, Credit Agricole CIB, Deutsche Bank and Goldman Sachs Bank Europe SE to joint lead manage the Regulation S, senior unsecured issuance, which will come under OFIDEV’s Global Medium Term Note Programme.
The debt structure will list on the London Stock Exchange Main Market.
OFIDEV is a multilateral institution supporting sustainable development for member countries through financing, technical assistance and knowledge sharing. Member countries include the UAE, Saudi Arabia, and Kuwait, among others.
(Writing by Bindu Rai, editing by Daniel Luiz)
