AIIB's First USD Benchmark Bond of 2026 Attracts Strong Interest

The Asian Infrastructure Investment Bank (AIIB, AAA/Aaa/AAA*) has opened its 2026 borrowing program pricing a USD1 billion 10-year benchmark bond with the highest level of interest yet recorded for an AIIB transaction. 

The SEC-registered U.S. dollar Sustainable Development bond drew indications of interest reaching USD9.7 billion, the highest level recorded for any AIIB transaction. There was strong demand from central banks, official institutions and asset managers, leading to a final order book in excess of USD14 billion, which ultimately enabled a 4 basis-point tightening from initial price guidance. 

The bond priced at mid-swaps +43 basis points, equivalent to +7.4 basis points over the 10-year U.S. Treasury and well inside the level of AIIB’s previous 10-year benchmark issuances. 

"We have been monitoring market levels closely and funding in USD is extremely attractive right now, both relatively and on an absolute level, particularly at the long end of the curve,” AIIB Acting CFO and Treasurer Domenico Nardelli said. “This bond priced 18 basis points lower versus mid-swaps than our previous two 10-year benchmarks. Lower borrowings costs are a positive for our clients and support AIIB’s development impact.” 

Strong investor demand reflects continued confidence in AIIB’s credit quality and its Sustainable Development Bond framework. The transaction marks a robust start to AIIB’s 2026 funding program, under which the Bank expects to raise around USD 10 billion equivalent across benchmark currencies and tenors, subject to market conditions.  

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About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 111 approved members worldwide. We are capitalized at USD100 billion and AAA-rated* by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity. 

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