By Angela McDaniels
Seattle, Sept. 15 - Asian Development Bank said it priced 6.5 billion Thai baht of bonds in two tranches: 5.5 billion baht of 5.34% bonds due 2011 and 1 billion baht of 5.54% bonds due 2016.
The bonds were priced on Thursday using the interpolated Thai government bond curve plus 20 basis points for the five-year bonds and 25 bps for the 10-year bonds, according to a bank news release.
The lead arrangers were Standard Chartered Bank (Thai) PCL and Bank of Ayudhya PCL.
The bank said the bonds, released under its new $10 billion Asian-currency note program, will help enhance liquidity in the cross-currency swap market, particularly as the bank plans to undertake currency swap transactions for asset and liability management purposes.
Asian Development Bank is a Manila-based multilateral development finance institution.
Issuer: | Asian Development Bank
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Amount: | 6.5 billion baht
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Issue: | Asian currency notes
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Pricing date: | Sept. 14
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Lead arrangers: | Standard Chartered Bank (Thai) PCL, Bank of Ayudhya PCL
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Five-year tranche
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Amount: | 5.5 billion baht
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Coupon: | 5.34%
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Maturity: | 2011
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Spread: | Interpolated Thai government bond curve plus 20 bps
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Ten-year tranche
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Amount: | 1 billion baht
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Coupon: | 5.54%
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Maturity: | 2016
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Spread: | Interpolated Thai government bond curve plus 25 bps
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