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BNPP and Daiwa win AfDB's global bond issue

The African Development Bank (AfDB) has decided against using dollar bond houses such as Citigroup and JP Morgan for its first global bond offering, choosing instead BNP Paribas and Daiwa Securities.

AfDB's $500m (€493m) three-year bond issue will be the largest dollar deal by the supranational body since 1994, as well as its first global issue in the currency.

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