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AfDB launches US$ 2 billion 1.625% Global Benchmark due 16 September 2022

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The African Development Bank (AfDB) rated Aaa/AAA/AAA (Moody’s/S&P/Fitch, all stable), has launched and priced a US$ 2 billion 3-year Global Benchmark bond due 16 September 2022, its first US$ benchmark of the year.

Launched on September 11, the bond issue is the Bank’s second Global Benchmark of 2019, following a EUR 1 billion 10-year priced in March 2019. With this transaction, the Bank has now raised US$ 4.4 billion in 2019 to date and executed 61% of its borrowing program for the year. The transaction received strong support from investors globally, with order books reaching US$ 2.8 billion and 53 investors participating. The high quality of the order book is illustrated by the strong participation of Central Banks and Official Institutions, taking 64% of the allocations.

The African Development Bank decided to take advantage of favorable investor sentiment post summer break to access the 3-year tenor, in spite of volatile market conditions ahead of the Fed Meeting the following week. The mandate was announced on Tuesday, September 10, at 12:00 London time with Initial Pricing Thoughts of Mid-Swaps + 13 basis points (bps) area.

The transaction met strong interest from the outset, with Indications of Interest in excess of US$ 1.8 billion (excluding Joint-Lead Managers interest) when order books officially opened at 08:00 London time the following morning, with initial price guidance of Mid-Swaps + 13bps area.

Momentum continued throughout the European morning, with orders in excess of US$ 2.5 billion around 11:20 London time. At this time, final pricing was set at Mid-Swaps + 13bps. Following the close of the order book in the US, the size of the transaction was set at US$ 2 billion by 14:20 London time.

The transaction was priced at 16:24 London time with a re-offer yield of 1.679%, equivalent to a spread of 8.75bps vs UST 1.5% 15 September 2022, the issuer’s tightest print vs US Treasuries to date.

“We are delighted with this successful dollar Global Benchmark, and particularly pleased by both the very high quality of the order book and the solid participation of African Central Banks. The African Development Bank achieved its tightest ever spread to US Treasuries, and we are grateful to our investors across the world for this outcome, and the financing it will bring to the African continent”. Hassatou Diop N’Sele, Group Treasurer, African Development Bank

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2027: INEC begins distribution of 77,015 PVCs in Oyo Friday

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The Independent National Electoral Commission will on Friday begin the distribution and collection of 77,015 newly printed Permanent Voter Cards across Oyo State ahead of the 2027 general elections.

The exercise, which will run from October 9 to 15, will be conducted at the 351 registration areas and wards across the state.

The Resident Electoral Commissioner in Oyo State, Prof. Adeniran Tella, disclosed this in a statement issued on Tuesday.

Tella said the exercise would hold daily, including weekends, between 9am and 3pm.

He explained that the exercise would cover newly printed PVCs as well as unclaimed cards printed ahead of the 2023 general elections.

The REC urged eligible voters to visit their respective registration areas during the seven-day exercise to collect their cards.

He also appealed to members of the public to disregard information circulating online suggesting that the Continuous Voter Registration exercise was still ongoing.

According to him, the CVR exercise ended on July 26, 2026.

Tella said those expected to benefit from the current exercise included newly registered voters, persons who had lost their PVCs, voters who requested transfers from one polling unit to another, and those whose cards were damaged or defaced during the last CVR exercise.

He said the collection of PVCs would continue at INEC offices in the 33 local government areas of the state after the seven-day exercise at the registration areas and wards.

The same collection hours of 9am to 3pm would apply at the local government offices, he added.

Tella further assured residents that the commission would receive additional batches of newly printed PVCs for distribution in the state.

He therefore urged eligible voters and other stakeholders to take advantage of the exercise and ensure that their PVCs were collected ahead of the 2027 elections.

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Alli Campaign Warns Against Fraudsters Collecting NIN, Bank Details

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The campaign organisation of the All Progressives Congress governorship candidate in Oyo State, Senator Sharafadeen Alli, has warned members of the public against fraudsters allegedly impersonating the senator and members of his campaign team to obtain sensitive personal information.

The organisation said the suspected fraudsters had been contacting unsuspecting members of the public by telephone and requesting their National Identification Numbers, bank account details and other confidential information.

The warning was contained in a statement issued on Saturday by the Director of Media and Publicity of the campaign organisation, Bisi Oladele.

Oladele described the development as an attempt to deceive members of the public and expose their personal and financial information to possible abuse.

He said, “Neither Senator Sharafadeen Alli nor his campaign organisation has authorised anyone to solicit NINs, bank details, passwords, PINs, One-Time Passwords or any other confidential information from members of the public.”

The campaign organisation urged anyone who receives such calls or messages to disregard them and avoid disclosing personal, banking or identification details until the identity of the caller has been properly verified.

It also cautioned members of the public against transferring money or responding to requests for financial assistance made through unverified telephone numbers, social media accounts or other unofficial communication channels purportedly linked to the campaign.

The organisation warned that sensitive information could be exploited for identity theft, financial fraud and other criminal activities.

It urged victims or members of the public who encounter suspicious calls or messages to report them promptly to the appropriate security agencies.

The campaign organisation said it was taking the allegations seriously and would cooperate with relevant authorities to identify and prosecute anyone found to be involved in impersonation, fraud or other criminal activities using Alli’s name.

It further advised the public to remain vigilant and verify unsolicited requests before responding to them, stressing that information about Alli and his campaign should be obtained only through officially verified communication channels.

The organisation reaffirmed Alli’s commitment to lawful and transparent engagement with the people of Oyo State, maintaining that legitimate political engagement does not require anyone to surrender confidential banking or identity information to unidentified callers.

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LAUTECH Strike: Alli Campaign Organisation Knocks Makinde Over Doctors’ Plight

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The Senator Sharafadeen Alli Campaign Organisation has criticised the Oyo State Governor, Seyi Makinde, over the prolonged strike by resident doctors at the Ladoke Akintola University Teaching Hospital, Ogbomoso.

The organisation said the strike, which has lasted for more than 30 days, was taking a toll on healthcare delivery and exposing what it described as the government’s failure to adequately address the welfare concerns of medical personnel in the state.

The Director of Media and Publicity of the organisation, Bisi Oladele, stated this in a statement issued on Sunday.

The organisation also expressed concern over the 21-day warning strike issued by the Association of Medical and Dental Officers of Oyo State over unresolved issues bordering on welfare, remuneration and conditions of service.

According to the group, the situation was worrisome because medical workers were being forced to embark on industrial action over issues relating to allowances, residency training funds and salary arrears.

It said the resident doctors were demanding the payment of outstanding Medical Residency Training Fund and six months’ Minimum Wage arrears, among other welfare-related issues.

The organisation said the prolonged strike had negatively affected medical services at the teaching hospital, with patients who could not afford private healthcare allegedly left with the option of waiting for services to resume or seeking alternative treatment.

“The SSACO is concerned about Governor Seyi Makinde’s failure to sit with the striking resident doctors and find a lasting solution to their demands.

“As the strike prolongs, the resident doctors feel maltreated, while the masses bear the brunt of government’s insensitivity.

“Healthcare delivery is a critical service which serious administrations treat with urgency and with the importance it deserves. With this prolonged strike, our resident doctors are feeling maltreated while the masses suffer.

“The medical and dental officers across state hospitals have also served notice of a warning strike. This combination is a signal of government failure in the health sector. It is unacceptable in our dear state,” the statement read.

The group maintained that the situation could worsen if the grievances of health workers were not urgently addressed, warning that further disruption of services could have serious consequences for patients dependent on public hospitals for affordable and specialised treatment.

It challenged the state government to engage the striking doctors and resolve the outstanding issues, accusing the administration of treating their complaints with insufficient urgency.

The organisation further said healthcare would occupy a priority position in Senator Sharafadeen Alli’s Oyo AHEAD agenda, promising improved welfare and working conditions for health workers.

“Health workers and other civil servants will not be denied their entitlements. They will enjoy training and retraining, and they will have facilities to work with,” it said.

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