By Devika Patel
Knoxville, Tenn., Sept. 7 – Inter-American Development Bank (Aaa/AAA/AAA) priced $3 billion of 1.75% five-year global benchmark notes on Thursday, according to a market source. The books opened in excess of $2.5 billion and closed in excess of $4.3 billion on Thursday.
The company sold the notes due Sept. 14, 2022 at 12 basis points over mid-swaps. The notes priced at 99.648 to yield 1.824%.
J.P. Morgan Securities LLC will bill and deliver and is a bookrunner with BNP Paribas Securities Corp., Goldman Sachs & Co., and Nomura.
The provider of development financing for Latin America and the Caribbean is based in Washington, D.C.
| Issuer: | Inter-American Development Bank
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| Amount: | $3 billion
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| Description: | Global benchmark notes
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| Maturity: | Sept. 14, 2022
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| Bookrunners: | J.P. Morgan Securities LLC (bill and deliver), BNP Paribas Securities Corp., Goldman Sachs & Co. and Nomura
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| Coupon: | 1.75%
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| Price: | 99.648
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| Yield: | 1.824%
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| Spread: | Mid-swaps plus 12 bps
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| Trade date: | Sept. 7
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| Settlement date: | Sept. 14
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Fitch: AAA
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| Price guidance: | Mid-swaps plus 13 bps
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