By Susanna Moon
Chicago, Jan. 25 – Inter-American Development Bank (Aaa/AAA) sold another $150 million of floating-rate notes due Oct. 25, 2021, bringing the total deal size to $1 billion.
The fifth tranche of the series 686 notes priced at 99.94655 with Toronto-Dominion Bank, according to a notice.
As reported Oct. 17, IADB originally priced $500 million of the floaters in line with guidance at Libor minus 2 basis points with Citigroup Global Markets Inc. and TD Securities (USA) LLC as the lead managers.
The issuer then sold another $100 million of the floaters on Dec. 18 in the second tranche priced at 100.03 plus accrued interest with BNP Paribas.
In the third tranche, the bank sold $50 million of the floaters at 100.029 on Dec. 27 with Nomura International plc.
In the fourth tranche IADB sold another $200 million of the floaters at 99.947 plus accrued interest on Jan. 17 via Merrill Lynch International.
The provider of development financing for Latin America and the Caribbean is based in Washington, D.C.
| Issuer: | Inter-American Development Bank
|
| Issue: | Add-on to global floating-rate notes, series 686
|
| Amount: | $150 million
|
| Maturity: | Oct. 25, 2021
|
| Dealer: | Toronto-Dominion Bank
|
| Coupon: | Libor minus 2 bps
|
| Price: | 99.94655
|
| Trade date: | Oct. 17 for $500 million, Dec. 14 for $100 million, Dec. 20 for $50 million, Jan. 15 for $200 million and Jan. 23 for $150 million
|
| Settlement date: | Oct. 25 for $500 million, Dec. 18 for $100 million, Dec. 27 for $50 million, Jan. 17 for $200 million and Jan. 25 for $150 million
|
| Ratings: | Moody's: Aaa
|
| S&P: AAA
|
| Total size: | $1 billion
|
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