Leading global law firm, Baker McKenzie advised the bank arrangers and dealers on the recent USD 3.5 billion EMTN programme update and immediate Reg S offering of USD 500 million 4.125% notes due 2028 by the Trade and Development Bank (TDB). The bank arrangers were Citigroup Global Markets Limited, Commerzbank Aktiengesellschaft, J.P. Morgan Securities plc, 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 the financing of TDB's mission of advancing regional growth and integration, whilst navigating the challenges of working in the pandemic environment, to ensure Africa's rapid development continues in spite of the global effects of COVID-19. The market's confidence in TDB was demonstrated by an oversubscribed issue after a very successful virtual 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 Associates James Tanner and Maxim Khrapov as well as Trainee Solicitor Akshay Prasad.
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 the financing of TDB's mission of advancing regional growth and integration, whilst navigating the challenges of working in the pandemic environment, to ensure Africa's rapid development continues in spite of the global effects of COVID-19. The market's confidence in TDB was demonstrated by an oversubscribed issue after a very successful virtual 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 Associates James Tanner and Maxim Khrapov as well as Trainee Solicitor Akshay Prasad.
Explore Our Newsroom