The African Development Bank on 14 June 2022 launched a 19-billion Ugandan shilling (UGX) ($5.07 million) 2-year theme bond, the first-ever African frontier currency-denominated environmental, social and governance (#ESG) issuance by a multilateral development institution.
The bond, due June 2024, will be settled in dollars at a fixed coupon of 10.5%.
It was issued under the African Development Bank Group’s #FeedAfrica strategic High 5 and marks the Bank’s first offshore UGX bond issuance in 2022.
The transaction was arranged by Standard Chartered Bank under the Bank’s Global Debt Issuance Facility, with Capitulum Asset Management as the investor.
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