Clifford Chance Advises BOAD on €1 Billion Bond Issuance for West African Development Projects

"International law firm Clifford Chance advised the West African Development Bank (BOAD) on its successful issuance of €1 billion bonds at a 6.250% interest rate, maturing in 2040. The proceeds will finance priority projects in the West African Economic and Monetary Union (UEMOA) as part of the Djoliba strategic plan. The cross-border team was led by Mustapha Mourahib, with contributions from various experts in different locations, including New York and Singapore. BOAD aims to promote balanced development and economic integration among its member states."

**Press Release Summary** Clifford Chance, an international business law firm, advised the West African Development Bank (BOAD) on its issuance of bonds amounting to €1 billion (144A/Reg S), with a 6.250% interest rate maturing in 2040. This successful bond issuance follows BOAD's issuance of sustainable hybrid bonds in February 2025, for which Clifford Chance also provided assistance. The net proceeds from this issuance will be used to finance priority projects within the West African Economic and Monetary Union (UEMOA) in line with the Djoliba Strategic Plan and the Bank's development financing mission. The cross-border team was led by Mustapha Mourahib, focusing on debt capital markets, assisted by Olivier Plessis on U.S. capital markets aspects. The main team also included Hamza Morsad in Casablanca, as well as Johannes Juette and Natasha Sarna in London. In New York, Avrohom Gelber and Gil Shauly advised on U.S. tax aspects, while Paul Koppel in New York and Thomas Koh in Singapore provided counsel on ERISA matters.

Clifford Chance Advises BOAD on €1 Billion Bond Issuance for West African Development Projects

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads