By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., Feb. 8 – IDB Invest (Inter-American Investment Corp.) priced $1 billion of 4.25% global bonds due Feb. 14, 2029 at SOFR mid-swaps plus 51 basis points, or 26.3 bps above Treasuries, on Wednesday, according to a market source.
Pricing came below talk in the SOFR mid-swaps plus 53 bps area.
BMO Capital Markets Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC were the bookrunners.
The notes will be listed in London. They are being issued under a global debt program.
The issuer reported in a press release that there were orders from 50 investors totaling $2.1 billion. Over 70% of the order book came from central banks and official institutions.
Based in Washington, D.C., IDB Invest is a member of the Inter-American Development Bank Group. The issuer is a multilateral development bank working on the economic development of its member countries in Latin America and the Caribbean through the private sector.
| Issuer: | Inter-American Investment Corp.
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| Amount: | $1 billion
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| Issue: | Global bonds
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| Maturity: | Feb. 14, 2029
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| Bookrunners: | BMO Capital Markets Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC
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| Coupon: | 4.25%
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| Price: | 99.742
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| Yield: | 4.308%
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| Spread: | SOFR mid-swaps plus 51 bps, or Treasuries plus 26.3 bps
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| Trade date: | Feb. 7
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| Settlement date: | Feb. 14
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| Price talk: | SOFR mid-swaps plus 53 bps area
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| ISIN: | US45828Q2D84
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