The African Development Bank (AfDB) (http://www.afdb.org), rated Aaa/AAA/AAA, today announced that it will offer an Education Support Bond to Japanese retail investors. The bond will be distributed by Japan Asia Securities and Okinawa Securities.
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The issuance of a five-year BRL fixed rate note is being arranged by HSBC Securities (Japan) Limited. The net proceeds of the issue will, on a best efforts basis, be used to fund projects in the field of education and hence foster economic and social growth in the region.
AfDB plays an important role in the sustainable and equitable economic growth of the continent. In the education sector, this means focusing on (i) higher education, science, and technology (HEST), with the aim of producing the human capital (scientists, engineers, researchers, doctors, etc.), who will serve in the countries?€? centres of excellence and (ii) Technical and Vocational Education and Training (TVET) to address the skilled labour requirements of the productive sectors. Investment in the social sector (education, health, etc.) can in this way contribute to human development and poverty reduction as well as support Regional Member Countries (RMCs) in achieving their Millennium Development Goal (MDG) targets.
By purchasing the Education Support Bond, individual investors can indirectly support children in Africa and provide them with a better future.
Summary of Expected Terms
5yr BRL Fixed Rates Notes
Sale price: 100.00 of face value
Application unit: BRL1,000
Offer period: 1-26 March 2013
Interest rate: 5.10% (before tax)
Issue date: 27 March 2013
Delivery date: 28 March 2013
Maturity: 28 March 2018
Coupon payment date: 28th of March and September every year
Distributed by the African Press Organization on behalf of the African Development Bank.
About the African Development Bank
The African Development Bank (http://www.afdb.org) is a multilateral development Bank established in 1964 to mobilize resources for the continent?€?s economic and social development. The Bank is owned by all the 53 countries of Africa and 24 countries across Europe, North and South America, the Middle East and Asia, including Japan.
HSBC Group
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,900 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and North Africa. With assets of US $2,721 billion at 30 September 2012, the HSBC Group is one of the world?€?s largest banking and financial services organizations.
Contact:
FundingDesk@afdb.org?? +216 71 10 29 06