African Development Bank Launches $464M Kangaroo Social Bond

The African Development Bank said on Monday it is returning to the Australian capital market with the launch of a 5.5-year $464 million Kangaroo social bond.

The development bank said the deal was led by Nomura (9716.T) and RBC Capital Markets.

It added that the second social bond, following a $3.1 billion 3-year issue launched last year to fight the coronavirus pandemic, will be used to improve access to electricity, water and sanitation, and other social programmes in the continent.