By Devika Patel and Cristal Cody
Knoxville, Tenn., Jan. 12 – Asian Development Bank priced $3.5 billion of 1½% five-year notes on Tuesday with a spread of SOFR mid-swaps plus 22 basis points, or Treasuries plus 8.73 bps, according to a market source and a news release.
Initial price talk was in the SOFR mid-swaps plus 23 bps area. The notes launched at SOFR mid-swaps plus 22 bps.
BofA Securities, Citigroup and TD Securities were the bookrunners.
The development bank is based in Manila.
| Issuer: | Asian Development Bank
|
| Amount: | $3.5 billion
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| Issue: | Notes
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| Maturity: | Jan. 20, 2027
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| Bookrunners: | BofA Securities, Citigroup and TD Securities
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| Coupon: | 1½%
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| Price: | 99.926
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| Spread: | SOFR mid-swaps plus 22 bps, or Treasuries plus 8.73 bps
|
| Trade date: | Jan. 11
|
| Price guidance: | Initial price talk in SOFR mid-swaps plus 23 bps area, launched at SOFR mid-swaps plus 22 bps
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