The China-backed Asian Infrastructure Investment Bank (AIIB) is eyeing a Europe listing for its debut global bond. Issued in US dollars, the inaugural bond will "more likely be in Europe," AIIB Vice President Thierry de Longuemar told Reuters on Wednesday. "It will done under English law." The AIIB, which has 80 member countries, was set up by China as its "answer to the World Bank" to help meet the estimated $26 trillion need for infrastructure spending in Asia through 2030.
The development bank is expecting to issue its first international bond sometime in 2018 and aims to make it a benchmark for the market. The size of the offering has yet to be specified. "It will not be early 2018," said de Longuemar. "The only thing I can say is that for regulatory reasons we need to have the 2017 financial statements audited and agreed by our board before being able to issue."
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