ADB issues 2nd gender bond denominated in Azerbaijan manat

0 Comment(s)Print E-mail Xinhua, January 29, 2024
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MANILA, Jan. 29 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it has raised 19.5 million Azerbaijan manat (about 11.5 million U.S. dollars) through the issuance of its second gender bond in this South Caucasus currency.

The issue is structured as a three-year currency-linked bond, with a sinking fund to mirror the amortizing terms of an underlying loan that seeks to expand access to credit for women and agricultural workers, the bank said.

The bond is denominated in Azerbaijan manat but settled in U. S. dollars, which makes it easier to crowd in international investors, the ADB said.

The bond pays a semi-annual coupon of 6.5 percent per year and is listed on the Luxembourg Stock Exchange. It was arranged by Merrill Lynch International and was subscribed by a single European investor, the bank added. Enditem

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