On Tuesday 23 August, the African Development Bank (AfDB), rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable), issued a 200 million South African rand (ZAR) 1-year Green Bond due September 2023. The bond, which pays a coupon of 6.90%, was arranged by Daiwa Capital Markets Europe and sold in a Private Placement format to a single Japanese institutional investor, Sony Bank, in support for green financing in African countries. This is the first AfDB Green Bond denominated in ZAR, after successful green bond issuances in US dollars (USD), Swedish krona (SEK), and Australian dollar (AUD) since the Bank established its Green Bond framework in 2013.
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