BDEAC issues international bond

The Central African States Development Bank (BDEAC) completed its first international bond issuance on October 13, 2026, raising $222 million, equivalent to over 130 billion CFA francs. This marks a significant milestone for the bank, which focuses on financing development projects in Central Africa.

Funding for structural projects

The funds raised are intended to speed up disbursements for structural projects in the six member states of the Central African Economic and Monetary Community (CEMAC). These projects focus on infrastructure, agriculture, agro-industry, and industry, aiming to boost economic growth in the region.

Loan concentration and funding needs

The BDEAC's loan portfolio is heavily concentrated in CEMAC states, which account for about 66% of the total outstanding loans. In 2025, the bank mobilized 177.1 billion CFA francs from external sources but repaid 114 billion CFA francs, showing the need to diversify its funding sources.

Strategic plan and financial improvements

The bond issuance is part of the BDEAC's 2023–2027 strategic plan, named Azobé, which includes adopting international accounting standards and improving financial performance. In 2025, the bank's net profit rose by 47% to 5.24 billion CFA francs, and its equity reached 386.39 billion CFA francs.

Credit rating and financial tools

In November 2025, Moody's assigned the bank a Ba3 credit rating with a stable outlook, confirmed in September 2026. The bond includes a 7.88% annual coupon in euros, with a maturity date in October 2029, and a currency hedge to protect against exchange rate fluctuations.

Transparency and investor engagement

The BDEAC has pledged to improve financial transparency, including holding semi-annual investor conferences and publishing detailed information on shareholder support, portfolio quality, financing, and liquidity.