New Issue: IADB prices $100 million tap of 3% notes due 2023 at 101.92

By Cristal Cody

Tupelo, Miss., March 25 – Inter-American Development Bank (Aaa/AAA) priced a $100 million reopening of 3% global notes due Oct. 4, 2023 at 101.92 in a fifth tranche of the issue, according to a pricing supplement.

BMO Capital Markets Corp. was the bookrunner.

The notes were originally issued on Oct. 4, 2013 in a $1 billion offering and reopened in a $200 million issue on March 22, 2018, a $100 million issue on Nov. 13, 2018 and a $100 million offering on Nov. 21, 2018. The total outstanding is $1.5 billion.

The issuer has applied to list the notes for trading on the London Stock Exchange plc’s regulated market.

The provider of development financing for Latin America and the Caribbean is based in Washington, D.C.

Issuer:	Inter-American Development Bank
Amount:	$100 million
Description:	Series 457 global notes
Maturity:	Oct. 4, 2023
Bookrunners:	Barclays, BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC
Coupon:	3%
Price:	101.92
Call feature:	None
Trade date:	March 19
Settlement date:	March 21
Ratings:	Moody's: Aaa
	S&P: AAA
Total outstanding:	$1.5 billion, including $1 billion original offering Oct. 4, 2013, a $200 million add-on on March 22, 2018, a $100 million tap on Nov. 13, 2018 and a $100 million reopening on Nov. 21, 2018

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