African Finance Corporation issued the first $431 million in digital bonds

The African Finance Corporation (AFC), through its first digital bond, successfully raised 350 million Swiss francs (approximately $431 million) to become the first African institution to issue such debt through a regulated exchange and a central securities depository. The five-year bond rate was 1.4925 per cent. According to AFC, the issue was the fourth and largest of its Swiss francs, with a previous green bond of 150 million Swiss francs. Investors of the bond came mainly from Switzerland, with domestic accounts accounting for about 90 per cent of the orders. AFC indicated that the proceeds would be used to meet its general financing needs and support the financing of infrastructure projects in Africa。