WAEMU Regional Market
BOAD is a leading and long-standing player in the WAEMU regional capital market, channeling local savings toward high-impact development projects. Since its first issuance in 1993, BOAD has completed 27 bond transactions on the WAEMU market, raising a cumulative amount of XOF 991.053 billion, equivalent to EUR 1.511 billion. The Bank is the largest non-sovereign issuer in the region.
BOAD on International Capital Markets
Since entering international capital markets in 2016, BOAD has built a solid track record of bond issuances consistently well received by investors. Following its inaugural Eurobond, the Bank raised USD 750 million in July 2017 with a 10-year maturity and a 5.2% coupon. The transaction was heavily oversubscribed, establishing BOAD as a benchmark issuer among African institutions.
In January 2021, BOAD further strengthened this position by issuing a 12-year EUR 750 million sustainability bond—the first of its kind by an African institution. This landmark deal was six times oversubscribed and attracted a broad and diversified investor base.
Building on this strong market credibility, BOAD reached a new milestone in February 2025 with the public issuance of a USD 500 million sustainable hybrid bond. This 30-year, deeply subordinated instrument—an unprecedented transaction for a multilateral development bank—supports BOAD’s solvency under its Djoliba Strategic Plan while channeling resources toward green and social projects. The success of this hybrid issuance, underscored by robust demand and a euro-equivalent coupon of 5.9%, reflects enduring investor confidence and reaffirms BOAD’s pioneering role in financial innovation for sustainable development in West Africa.
