By Cristal Cody
Chicago, June 17 – Asian Development Bank sold a two-part offering for $5.5 billion, according to a bank release.
The bank sold $4 billion of 3/8% three-year bonds due June 11, 2024 at 99.94 to yield Treasuries plus 9.75 basis points.
The issuer also priced $1.5 billion of 1¼% bonds due June 9, 2028 at 99.414 to yield Treasuries plus 8.8 bps.
Talk was based on mid-swaps and had the three-year notes is in the mid-swaps flat area. Initial price talk for the seven-year notes is in the mid-swaps plus 12 basis points area, according to a market source.
Barclays, Citi, JPMorgan and TD are the bookrunners.
ADB plans to pull $34 billion to $36 billion from the capital markets in 2021.
Proceeds will be used for capital resources.
The development bank is based in Mandaluyong, Philippines.
| Issuer: | Asian Development Bank
|
| Issue: | Notes
|
| Amount: | $5.5 billion
|
| Bookrunners: | Barclays, Citi, JPMorgan, TD (lead), CIBC, Daiwa, ING, and Scotiabank
|
| Trade date: | June 3
|
|
|
| 2024 notes
|
| Amount: | $4 billion
|
| Maturity: | June 11, 2024
|
| Coupon: | 3/8%
|
| Price: | 99.94
|
| Spread: | Treasuries plus 9.75 bps
|
| Price talk: | Mid-swaps flat area
|
|
|
| 2028 notes
|
| Amount: | $1.5 billion
|
| Maturity: | June 9, 2028
|
| Coupon: | 1¼%
|
| Price: | 99.414
|
| Spread: | Treasuries plus 8.8 bps
|
| Price talk: | Mid-swaps plus 12 bps area
|
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