The Asian Infrastructure Investment Bank (AIIB) priced its inaugural EUR 1 billion 3-year benchmark bond on February 25, 2026, with Natixis, Crédit Agricole, J.P. Morgan, and NatWest Markets acting as lead managers for the issuance.
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Counterparts (5)
lead manager
NATIXIS
company · 3 deals
Natixis is a Corporate & Investment Banking and Asset & Wealth Management firm. They offer innovative and sustainable financing and investment solutions to corporations, investors, financial institutions, financial sponsors and customers of Groupe BPCE’s retail networks.
NatWest
company · 4 deals
NatWest provides banking and financial services to personal, business, and corporate customers. They offer financing solutions, including project finance and specialist asset finance, and are involved in sustainable finance initiatives.
Crédit Agricole
company
Crédit Agricole is a major financial institution with a significant presence in infrastructure financing and investment. They focus on supporting projects in energy transition, utilities, and transport sectors, leveraging their global network and expertise to facilitate sustainable development.
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Deal Analysis
The Asian Infrastructure Investment Bank (AIIB) successfully priced its inaugural EUR 1 billion 3-year benchmark bond on February 25, 2026. This significant financing deal saw a consortium of prominent financial institutions, including Natixis, Crédit Agricole, J.P. Morgan, and NatWest Markets, acting as lead managers. The issuance marks a strategic move by AIIB to diversify its funding sources and establish a presence in the Eurobond market, enabling it to continue its mandate of supporting infrastructure development.
This deal is particularly notable for its "inaugural" status, setting a precedent for AIIB's future Euro-denominated issuances and signaling its growing stature in international capital markets. The substantial EUR 1 billion value underscores strong investor demand and confidence in AIIB's credit profile and mission. The involvement of a robust syndicate of lead managers, including firms with significant infrastructure financing expertise like Natixis and Crédit Agricole, highlights the broad market appeal and distribution capabilities behind this benchmark transaction.
- AIIB's inaugural EUR 1 billion 3-year benchmark bond.
- Priced on February 25, 2026, marking a new funding avenue for AIIB.
- Involvement of a strong syndicate of lead managers: Natixis, Crédit Agricole, J.P. Morgan, and NatWest Markets.
- Strategic diversification of funding sources for the Asian Infrastructure Investment Bank.
Source Intelligence
KEY DETAILS
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 bond has a Coupon of 2.25%, Annual, Act/Act (ICMA), a Re-offer Spread to mid swaps of +1bps, a Re-offer Price of 99.942%, and a Re-offer Yield of 2.270%. The ISIN is XS3308045130. The bond is listed on the Luxembourg Stock Exchange. The issuer's rating is Aaa/AAA/AAA (Moody’s, S&P and Fitch), all stable. The documentation used is AIIB Global Medium Term Note Programme (“GMTN”) Base Prospectus dated 2 March 2023 and supplemented 10 April 2024. Investor distribution by type was Central Banks/Official Institutions 41%, Bank Treasuries 45%, Asset Managers/Pension Funds/Insurance/Others 14%. Investor distribution by region was EMEA 68%, APAC 32%, Americas 1%.
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Deal Size
Issue Amount EUR 1,000,000,000
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Location
Listing Luxembourg Stock Exchange
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Financials
Issue Amount EUR 1,000,000,000
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Announcement
Beijing, February 27, 2026 AIIB Prices Inaugural EUR 3-Year Benchmark and AUD Climate Adaptation Bond
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COD
Maturity Date 5 March 2029
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Expected Close
Settlement Date 3 March 2026
PARTIES MENTIONED IN SOURCE
A
Asian Infrastructure Investment Bank ("AIIB")
issuer
"Issuer Asian Infrastructure Investment Bank ("AIIB")"
C
Crédit Agricole
lead manager
"Lead Managers Crédit Agricole, J.P. Morgan, Natixis, and NatWest Markets"
J
J.P. Morgan
lead manager
"Lead Managers Crédit Agricole, J.P. Morgan, Natixis, and NatWest Markets"
N
Natixis
lead manager
"Lead Managers Crédit Agricole, J.P. Morgan, Natixis, and NatWest Markets"
N
NatWest Markets
lead manager
"Lead Managers Crédit Agricole, J.P. Morgan, Natixis, and NatWest Markets"
high quality
Enriched Mar 1, 2026
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