Beijing, April 28, 2021

AIIB Prices Inaugural AUD500m Sustainable Development Kangaroo Bond

The Asian Infrastructure Investment Bank (AIIB) today successfully priced its debut sustainable development Kangaroo bond. The five-year AUD500 million transaction will finance AIIB’s mission to finance Infrastructure for Tomorrow—investing in sustainable infrastructure to address climate change and connect Asia and the world. The AUD debut saw strong take-up both in Australia (32 percent) and across the Asian region (55 percent), demonstrating the continued growth of AIIB’s footprint across capital markets with a number of investors participating in an AIIB transaction for the first time.

The benchmark is AIIB’s first bond issue following the release of its Sustainable Development Bond Framework earlier this month, highlighting the integration of environmental and social sustainability into its operations. The bond will help AIIB finance sustainable infrastructure in its members by focusing on projects that fall under its four thematic priorities: green infrastructure, connectivity and regional cooperation, technology-enabled infrastructure and private capital mobilization.

AIIB Chief Financial Officer Andrew Cross said, “We are very pleased with the remarkable results of this landmark deal as well as the deepened relationship with the Australian investor base. We thank all investors and our bank partners for supporting AIIB’s commitment to sustainable development in Asia and the region.”

AIIB Treasurer Domenico Nardelli said, “This successful transaction highlights AIIB’s commitment to building liquid curves in all core currencies under our diversified funding program. With a borrowing program of USD10 billion which will continue to gradually increase going forward, AIIB will continue to build its presence in the capital markets as a frequent borrower.”

Deutsche Bank AG, J.P. Morgan Securities Australia Limited, Nomura International plc, and Westpac Banking Corporation were the joint lead managers for the transaction.

The new issue benefits from triple-A ratings from Standard & Poor’s and Moody’s, which reflect the Bank’s commitment to the highest standards of governance, enhanced transparency and accountability.


Key Transaction terms:


Asian Infrastructure Investment Bank (AIIB)

Issuer Rating

Aaa / AAA / AAA (Moody’s / S&P / Fitch)



Announcement Date

April 27, 2021

Pricing Date

April 28, 2021

Settlement Date

May 6, 2021 (T+6)

Maturity Date

May 6, 2026

Re-offer Spread to Semi-Quarterly Asset Swaps

+22bps, equivalent to 30.85bps over the ACGB 4.25% April 2026

Re-offer Price / Yield

99.988% / 1.0025% s.a.

Joint Lead Managers

Deutsche Bank AG, J.P. Morgan Securities Australia Limited, Nomura International plc, Westpac Banking Corporation


Transaction Highlights:

  • AIIB selected the Kangaroo market to launch its first bond following the release of the new Sustainable Development Bond Framework on April 21, 2021. Given the strong market backdrop, AIIB announced a mandate for a global investor call on Monday, April 26, at 4:00 pm Sydney time, looking to take advantage of a favorable execution window.
  • Following positive feedback to the Global Investor Call, AIIB took the decision to launch the transaction the following day. Books opened at 12:50 pm on Tuesday, April 27. A new five-year transaction was announced for a size of AUD300-500 million and with a reoffer range of semi-quarterly asset swap +21-23bps, equivalent to ACGB April 2026 +30.5-32.5bps.
  • The transaction received a warm response from investors following books open, and by the end of the Australian day, had reached AUD530 million (including AUD225 million joint-lead manager interest). Books continued to grow during the European session and were in excess of AUD625 million at 8:50 am Sydney time on Tuesday. Guidance was refined to ASW+21-22bps at this time. 
  • Books closed in excess of AUD665 million, and the final spread was set at ASW+22bps. The transaction was priced at 2:50 pm Sydney time at a spread of ASW+22bps, equivalent to +30.85bps over the ACGB due April 2026 and a re-offer yield of 1.0025 percent. 


Investor Distribution:

By Geography

By Investor Type



Bank Treasury




Central Bank / Official Institution




Asset Manager







About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 103 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

This news release is not for public release, publication or distribution, directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

This news release is not an offer of the securities for sale in the United States of America. These securities are being offered and sold pursuant to an exemption from the registration requirements of the U.S. Securities Act in reliance on, and in compliance with, Regulation S under the U.S. Securities Act. Distribution of this news release to any person within the United States is unauthorized.

AIIB is neither a bank nor an authorized deposit-taking institution which is authorized under the Banking Act 1959 of Australia (the “Banking Act”).  The securities are not obligations of the Australian Government nor of any other government and, in particular, are not guaranteed by the Commonwealth of Australia.  An investment in any securities will not be covered by the depositor protection provisions of section 13A of the Banking Act and will not be covered by the Australian Government’s bank deposit guarantee (also commonly referred to as the Financial Claims Scheme).

Any securities offered by AIIB in, or into, Australia are offered only as an offer that would not require disclosure to investors under Part 6D.2 or 7.9 of the Corporations Act 2001 of Australia (the “Corporations Act”) and in compliance with the terms of the Australian Prudential Regulation Authority’s consent under section 66 of the Banking Act granted to AIIB. This release is directed only to persons to whom disclosure is not required under Part 6D.2 or 7.9 of the Corporations Act and it must not be given and is not intended to be given, to any “retail client” within the meaning of section 761G of the Corporations Act.

This news release may contain forward-looking statements. Statements that are not historical facts are statements about the bank’s beliefs and expectations and may include forward-looking statements. These statements are identified by words such as “expect” and “will” and words of similar meaning. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Therefore, you should not place undue reliance on them.

A rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time by the assigning rating organization.

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Media Contact

Lingxiao He

Press Officer

+86 10 8358 0683

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