Published on 3/20/2007 in the Prospect News Emerging Markets Daily.
New Issue: IADB sells $500 million 4¾% three-year bonds
By Reshmi Basu
New York, March 20 - Inter-American Development Bank sold a $500 million offering of three-year bonds (Aaa/AAA) at 99.954 with a coupon of 4¾%, according to a market source.
Morgan Stanley and Royal Bank of Canada managed the transaction.
IADB is a regional development bank in Latin America and the Caribbean.
| Borrower: | Inter-American Development Bank
|
| Amount: | $500 million
|
| Issue: | Bonds
|
| Maturity: | June 29, 2010
|
| Coupon: | 4¾%
|
| Issue price: | 99.954
|
| Spread: | 20 basis points over Treasuries
|
| Lead managers: | Morgan Stanley, Royal Bank of Canada
|
| Pricing date: | March 20
|
| Settlement date: | March 27
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
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