Baker McKenzie advised the bank arrangers and dealers on the recent USD 2 billion EMTN programme Update and immediate Reg S offering of U.S. $500 million 4.875 per cent Notes due 2024 by the Eastern and Southern African Trade and Development Bank (TDB). The bank arrangers were Citigroup Global Markets Limited, Commerzbank Aktiengesellschaft, Emirates NBD Bank PJSC, MUFG Securities EMEA plc, SMBC Nikko Capital Markets Limited and Standard Chartered Bank.
TDB is a leading regional charter-based development finance institution operating in its member states across the Common Market for Eastern and Southern Africa, the East African Community and the Southern African Development Community. Its mission is to be at the forefront of extending development capital and services to advance regional growth and integration through customer-focused and innovative financing instruments.
London-based partner Michael Doran remarked: "We were pleased to assist the banks in helping TDB finance its mission of advancing regional growth and integration at this crucial time in Africa's continuing rapid development. The market's confidence in TDB was demonstrated by an oversubscribed issue after a very successful roadshow and TDB's lowest bond funding rate to date.”
The Baker McKenzie team in London was led by partner Michael Doran supported by senior associate James Tanner, associate Simon Foster and trainee Kristian Bagger.