The Asian Infrastructure Investment Bank (AIIB, AAA/Aaa/AAA*) has priced its inaugural EUR 3-year benchmark bond, raising EUR 1 billion and establishing a new reference point at the short end of its euro curve.
The transaction attracted strong demand from a diversified investor base, including bank treasuries as well as central banks and official institutions. The orderbook reached EUR 5.3 billion, with pricing set at 1 basis point over mid-swaps following tightening from initial guidance of 4 basis points.
“The EUR 3-year is a maturity we have been monitoring closely, and the timing allowed us to establish a benchmark in a segment that complements our existing euro curve,” said Darren Stipe, Head of Funding at AIIB. “Engaging investors at this tenor broadens our participation across the euro market and supports our objective of maintaining a consistent and diversified funding presence.”
The issuance extends AIIB’s euro curve into shorter maturities, enhancing flexibility within one of the Bank’s core funding markets and supporting continued engagement with investors.
Earlier this month, AIIB priced a AUD 500 million 5-year Climate Adaptation Bond, its third benchmark issuance under this theme. The orderbook exceeded AUD 2.3 billion across more than 40 accounts, representing 4.6 times oversubscription. The bond priced at 35 basis points over swaps following 1 basis point of tightening from initial price guidance and 16 basis points tighter than AIIB’s 2025 AUD benchmark.
Proceeds of the AUD bond will be allocated to the Bank’s investment operations projects where at least 20% of the total project financing supports climate adaptation activities.
“The infrastructure needs of our members are increasingly shaped by climate risk, not as a future consideration, but as a present reality,” said Domenico Nardelli, Treasurer and Acting CFO at AIIB. “In 2024 climate finance represented 67% of AIIB’s total approved regular financing, with 27% of that USD 5.6 billion invested in adaptation projects.”
Together, the two transactions contribute to AIIB’s 2026 funding program of USD 10 billion equivalent, bringing year-to-date funding to USD4.6 billion. They reflect continued demand for AIIB’s Sustainable Development Bonds across currencies and maturities, reinforcing the Bank’s diversified funding strategy and its role in channeling global capital toward infrastructure for tomorrow.
Key Transaction Terms
|
Issuer |
Asian Infrastructure Investment Bank ("AIIB") |
|
|
Rating* |
Aaa/AAA/AAA (Moody’s, S&P and Fitch), all stable |
|
|
Status |
Direct and Unsecured |
|
|
Currency |
AUD |
EUR |
|
Issue Amount |
AUD 500,000,000 |
EUR 1,000,000,000 |
|
Pricing Date |
5 February 2026 |
25 February 2026 |
|
Settlement Date |
12 February 2026 |
3 March 2026 |
|
Maturity Date |
12 February 2031 |
5 March 2029 |
|
Coupon |
4.750%, Semi-Annual, Act/Act |
2.25%, Annual, Act/Act (ICMA) |
|
Re-offer Spread to mid swaps |
+35bps |
+1bps |
|
Re-offer Price |
99.791% |
99.942% |
|
Re-offer Yield |
4.7975% (semi-annual) |
2.270% |
|
ISIN |
AU3CB0331155 |
XS3308045130 |
|
Documentation |
AIIB’s A$ and NZ$ Debt Issuance Programme Information Memorandum dated 5 January 2021 |
AIIB Global Medium Term Note Programme (“GMTN”) Base Prospectus dated 2 March 2023 and supplemented 10 April 2024 |
|
Listing |
N/A |
Luxembourg Stock Exchange |
|
Lead Managers |
Commonwealth Bank of Australia, Nomura, Toronto Dominion and UBS AG, Australia |
Crédit Agricole, J.P. Morgan, Natixis, and NatWest Markets |
Distribution
|
By Investor Type |
AUD |
EUR |
|
Central Banks/Official Institutions |
13% |
41% |
|
Bank Treasuries |
63% |
45% |
|
Asset Managers/Pension Funds/Insurance/Others |
25% |
14% |
|
Figures are rounded and may not add to 100% |
|
|
|
By Investor Region |
AUD |
EUR |
|
APAC |
58% |
32% |
|
EMEA |
24% |
68% |
|
Americas |
1% |
1% |
|
Australia |
17% |
|
|
Figures are rounded and may not add to 100% |
||
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.
NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO
