Inter-American Development Bank talks $250 million tap of floaters due 2022 at 5 bps area

By Cristal Cody

Tupelo, Miss., July 11 – The Inter-American Development Bank (Aaa/AAA) plans to price a $250 million reopening of its global floating-rate notes due March 15, 2022 on Thursday, according to a market source.

The series No. 712 notes were initially talked to price in the Libor plus 5 basis points area.

BofA Securities, Inc., BMO Capital Markets Corp. and Barclays are the bookrunners.

The bank first sold $500 million of the notes on June 6 in line with guidance at par to yield Libor plus 3 bps.

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

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