The transaction, completed on October 28, was the AfDB’s second public Hong Kong Dollar Wonton bond following an inaugural approximately $382 million issuance in March.

The AfDB entered the market amid geopolitical uncertainty and interest-rate volatility, taking advantage of a favourable issuance window before a busy macroeconomic calendar.

AfDB announced the mandate with initial price guidance of three basis points above the Hong Kong Interbank Offered Rate mid-swap benchmark.

Investor demand increased throughout the book-building process, with orders exceeding approximately $433 million, including about $261 million in interest from Joint Lead Managers.

The strong demand allowed AfDB to set the final spread at the mid-swap benchmark, three basis points tighter than the initial guidance.

The Bond was priced at par at 15:31 Hong Kong time with a re-offer yield and coupon of 4.143%.

Hong Kong-based investors received 97% of the allocations.

Bank treasuries accounted for 91% of the transaction, while asset managers and fund managers received the remaining 9%.

The issuance diversifies AfDB’s sources of financing and strengthens access to investors operating in the Hong Kong dollar market.

AfDB said the level of demand reaffirmed investor confidence in the Bank despite difficult global market conditions.

Proceeds from the Bond will support eligible social projects under AfDB’s Sustainable Bond Framework.

The transaction also reinforces AfDB’s commitment to sustainable finance and creates another avenue for mobilising international capital for social development projects across Africa.

The Bond represents AfDB’s second public transaction in the Hong Kong dollar market during 2026, following the 3.25-year issuance completed in March.

The latest five-year transaction extends AfDB’s presence in the market while broadening the maturity profile of Hong Kong dollar-denominated borrowing.

–AfDB/ChannelAfrica–