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African Development Bank launches GBP 500 million 0.875% Global Benchmark due 16 December 2024 – The Maravi Post

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Transaction details

The African Development Bank (AfDB), rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable), has launched and priced a highly successful GBP 500 million long 3-year Global Benchmark bond due 16 December 2024, its second pound sterling  benchmark transaction of the 2021 calendar year.

The mandate for a new GBP December 2024 Benchmark was announced on Monday, 25th October 2021 around 9am London time, with orderbooks opening at Initial Price Guidance (“IPGs”) of UKT+28bps area.

The transaction was met with strong interest from the outset and by 10.30am London time, had attracted an orderbook in excess of GBP 220 million (excluding JLM interest) , at which point the spread was set at UKT+28bps.

The orderbook momentum continued to grow, and within the next 30 minutes, had surged in excess of GBP 350 million (excluding JLM interest).

With the final orderbook standing in excess of GBP 500 million (excluding JLM interest), the African Development Bank set the size of its latest benchmark at GBP 500 million. This marks the largest GBP benchmark in the 2024 maturity issued by a Supranational in the SSA space this calendar year.

The transaction was priced shortly after at 1.03pm London time, at UKT+28bps, offering an annual coupon of 0.875% equivalent to a re-offer yield of 0.918% and a re-offer price of 99.862%.

The transaction attracted 20 investors globally with investor demand evenly distributed across geographies. The new issue garnered interest from top quality investors with particularly good demand from Central Banks and Official Institutions 47%.

The strong outcome and attractive pricing enabled the African Development Bank to once again showcase its position as a leading triple-A SSA credit despite a very busy primary market. Through its commitment to the pound sterling market, the African Development Bank continues to provide much needed liquidity for investors, further cementing its position as a frequent borrower.

Final Bond Terms
Issuer: African Development Bank (“AfDB”)
Ratings: Aaa (Moody’s) / AAA (S&P) / AAA (Fitch) / AAA (Japan Credit Rating) – (all stable)
Format: Global SEC Exempt
Nominal Amount: GBP 500,000,000
Pricing Date: 25 October 2021
Settlement Date: 2 November 2021 (T+6)
Maturity Date: 16 December 2024
Coupon: 0.875%, Annual Act/Act ICMA
Re-offer Spread: UKT 2.75% 7 September 2024 +28bps
Re-offer Price: 99.862%
Re-offer Yield: 0.918% semi-annual
Lead Managers: Barclays, Deutsche Bank, RBC Capital Markets
ISIN: XS2403518033
Distribution

Source African Development Bank Group

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Watch Super Queen Grand Premiere 27th November 2021 Full Episode & Contestants Zee Telugu

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Hey entertainment lovers, just gearing up yourself to catch a phenomenal show of Zee Telugu called “Super Queen” which is ready to make your weekend over the top, as the viewers have released the broadcasting date. Ever since the die-hard fans of the Zee Telugu network got acquainted with the promo, their curiosity is hitting the bricks to know everything. So below you can get the comprehensive details, which will help you at the time of catching the telecast because as soon as the time is passing the interest of the audience is enhancing enough.

Super Queen zee Telugu

According to the reports, the broadcasting of “Super Queen” will take place on Sunday 28th November 2021 on Zee Telugu at 12:00 PM. Karthika Masam is a count in the month for the auspicious beginnings, no matter it is a new show, alliance, or something else. So, therefore, the Makers of the show have decided to make the viewers familiarized with the show in the last week of November 2021, as still, a few days are left in the ending of the Karthik Masam. Many surprises are also brought by the makers as well, whose everyone is eagerly waiting for, but still, a few hours are left in telecasting so you will have to wait for a bit.

The makers have been conferred the exclusive promos of the show officially, in which you can watch the glimpse of upcoming activities, which are ready to take place on the stage to make the audience entertained up to the next level. Even the makers are doing such things to enhance the entertainment level so that, viewers could feel tied with them till the end. Even the contestant’s lists have also been shared by the makers, this is the reason everyone is paying attention more to them.

 Super Queen 27th Nov 2021

  • Shiva Jyoti
  • Shobha Shetty,
  • Snigdha
  • Pooja Moorthy
  • Bhanu Shree
  • Sri Satya
  • Madhumita
  • Navya Swamy
  • Lasya Manjunath
  • Yashmi

Here we have mentioned such details about the new show Super Queen and these details will be proven beneficial for you, which streaming the show. These 10 queens will spread the magic of their charm, and make the audience surprised due to their astonishing moves. These contestants will battle against each other to make the title of the show in their name as the winner. When it comes to the special guest so Anupama Parameswaran, Raj Tarun, and Niharika Konidela will be seen a special guests in the show.

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Solomon Islands Tension – The Maravi Post

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8 hours ago

Three bodies were found in a burnt out building in Honiara amid this week’s violence in the capital of the Solomon Islands, Australian media reported. Authorities had put a curfew in place on Friday night in an attempt to stem the unrest and the situation seemed to be calmer on Saturday. But the government showed no signs of addressing the underlying grievances that sparked two days of riots, including concerns about the country’s increasing links with China. Solomon Islands Prime Minister Manasseh Sogavare sought to deflect attention from domestic issues by blaming outside interference for stirring up the protesters, with a thinly veiled reference to Taiwan and the United States. Honiara’s Chinatown and its downtown precinct were focuses of rioters, looters and protesters who demanded the resignation of Sogavare, who has been prime minister intermittently since 2000. Sogavare has been widely criticized by leaders of the country’s most populous island of Malaita for a 2019 decision to drop diplomatic ties with Taiwan in favor of mainland China. His government, meanwhile, has been upset over millions in U.S. aid promised directly to Malaita, rather than through the central government. Those issues are just the latest in decades of rivalry between Malaita and Guadalcanal, where the capital, Honiara, is located, said Jonathan Pryke, director of the Sydney-based Lowy Institute think tank’s Pacific Islands program. The Solomon Islands, with a population of about 700,000, are located about 1,500 kilometers (1,000 miles) northeast of Australia.

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Source: Africanews



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Immunology professor talks about the new coronavirus variant – The Maravi Post

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Passengers at Johannesburg’s O.R Tambo airport scrambled this Saturday to find flights to Europe as more and more countries are shutting doors to passengers coming from African countries.

The emergence of the new coronavirus Omicron variant in South Africa sparked a worldwide reaction.

Professor of Immunology Danny Altmann explains.

“I know it feels very harsh to people in South Africa who have really done the right thing and been terribly speedy and vigilant in their reporting. But I just feel that we were so slow to act on Delta and the whole world paid such a high price for it. Let’s try and be forewarned and do it properly this time. So, I think it probably is warranted”, said the academic working at Imperial College London.

Last minute PCR tests are now mandatory.

The UK-based professor believes that vaccination still offers protection against the worst effects of this disease.

“I think it’s a case of kind of hope for the best and fear the worst, isn’t it? So in some ways, if you look at the straight molecular biology limitations, it looks potentially quite a lot scarier even than Delta. And don’t forget, we thought of Delta. I certainly thought Delta as a peak variant, and probably it couldn’t get much worse than that. This looks potentially worse. On the other hand, there’s no reporting from South Africa yet that cases are more severe, and it looks like vaccines may still be doing something because we heard there yesterday that the people in hospital tended to be the unvaccinated people rather than the vaccinated”, said Professor Altmann.

In Africa vaccination rates are significantly lower compared to Europe, the United States and other regions.

According to Professor Altmann, distribution of vaccines throughout Africa is essential to stop future variants.

“You know, in this particular case, if it did come out of Botswana and or South Africa, there has been quite a lot of vaccine available there. But as you say in the African continent as a whole, they’ve been very short of vaccines compared to Europe or North America. And things like this demonstrate how foolhardy that is. We’re just breeding the future variants to come and haunt us. Why do it?”

The latest available data indicate that South Africa has registered almost 3 million cases of Covid-19 and close to 90,000 deaths.

Source: Africanews

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