New Issue: Asian Development Bank sells $3 billion 3/8% five-year notes at mid-swaps plus 11 bps

By Cristal Cody

Tupelo, Miss., Aug. 26 – Asian Development Bank priced $3 billion of 3/8% five-year notes (Aaa/AAA) on Tuesday at mid-swaps plus 11 basis points, or a Treasuries plus 15.4 bps spread, according to a market source.

The notes were guided to print at the mid-swaps plus 11 bps area.

BofA Securities, Inc., Credit Agricole CIB, Citigroup Global Markets Ltd. and J.P. Morgan Securities plc were the lead managers.

Asian Development Bank is a Mandaluyong, Philippines-based regional development bank.

Issuer:	Asian Development Bank
Amount:	$3 billion
Securities:	Notes
Maturity:	Sept. 3, 2025
Bookrunners:	BofA Securities, Inc., Credit Agricole CIB, Citigroup Global Markets Ltd. and J.P. Morgan Securities plc
Coupon:	3/8%
Spread:	Mid-swaps plus 11 bps, or Treasuries plus 15.4 bps
Trade date:	Aug. 25
Ratings:	Moody’s: Aaa
	S&P: AAA
Price guidance:	Mid-swaps plus 11 bps area

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