Nigeria, Jan. 9 -- The African Development Bank has returned to the UK debt market with a £1 billion three year global benchmark bond due in January 2029, setting a new record for its largest sterling issuance to date.



The bond was priced amid strong market conditions and attracted heavy interest from global investors, according to details released by the bank on Wednesday. Initial price guidance was set at SONIA mid swaps plus 35 basis points, but demand quickly exceeded expectations, with orders crossing £1.5 billion within hours of book opening.



The News Chronicle understands that the strength of demand allowed AfDB to tighten pricing and secure competitive funding terms, reinforcing its standing among top rated multi...