JOHANNESBURG - The African Development Bank (AfDB) said on Tuesday ​it had ⁠raised 3 billion Hong Kong dollars ($383 ‌million) via a debut 'Wonton bond'.

A Wonton ​bond is a debt instrument denominated in ​Hong Kong dollars ​issued by an international entity.

The issuance enables the AfDB, Africa's ⁠biggest development lender, to tap into liquid Hong Kong capital markets while diversifying away from its traditional dollar- and euro-denominated ​funding.

The bond, ⁠maturing in ⁠2029, was priced at par with a re-offer ​yield and coupon ‌of 2.615%, attracting strong ⁠investor demand despite a volatile geopolitical backdrop linked to the U.S.-Israel war against Iran, the AfDB said in a statement.

Final orders exceeded 4.6 billion Hong Kong dollars, making the issue more than 1.5 times oversubscribed, ‌with 98% of demand coming from Hong ⁠Kong. Bank treasuries accounted ​for 84% of demand followed by fund managers/insurance at 12%.

($1 = 7.8370 Hong ​Kong dollars)