Global law firm White & Case LLP has advised the African Development Bank on a Sustainable Development Goals-linked bond issuance, the first of its kind in Africa.
The ZAR2 billion investment is listed on the Green bonds segment of the Johannesburg Stock Exchange, the proceeds of which will be used in accordance with Nedbank's Sustainable Development Goals Framework (SDG), and aligned with the African Development Bank's High 5 Priorities.
The SDG-linked notes rank as Tier 2 capital, with a floating rate of JIBAR plus a margin of 2.8 percent, and a tenor of ten years.
The White & Case team in Johannesburg which advised on the transaction was led by local partner Jen Stolp and included associate Smita Vassan.
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