By Aleesia Forni
Virginia Beach, Oct. 29 – Inter-American Development Bank sold a $500 million tap of its existing 1.25% bonds (Aaa/AAA/) due Jan. 16, 2018 on Wednesday at mid-swaps minus 7 basis points, according to a market source.
The notes sold in line with guidance.
Pricing was at 100.549 to yield 1.075%.
The original $500 million issue sold at mid-swaps minus 9 bps on Oct. 1.
Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the joint bookrunners.
The issuer provides financing for Latin American and Caribbean countries and is based in Washington, D.C.
| Issuer: | Inter-American Development Bank
|
| Amount: | $500 million
|
| Description: | Add-on to 1.25% notes due 2018
|
| Maturity: | Jan. 16, 2018
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC
|
| Coupon: | 1.25%
|
| Price: | 100.549
|
| Yield: | 1.075%
|
| Spread: | Mid-swaps minus 7 bps
|
| Trade date: | Oct. 29
|
| Settlement date: | Nov. 5
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor's: AAA
|
| Price talk: | Mid-swaps minus 7 bps area
|
| Total issue size: | $1 billion, including $500 million priced on Oct. 1
|
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