New Issue: Asian Development Bank sells $3.75 billion of notes in two parts

By Cristal Cody

Chicago, March 9 – Asian Development Bank sold a total of $3.75 billion of bonds over two parts on Tuesday, according to information from a market source.

The Manila-based bank sold $2.25 billion of 1 5/8% two-year notes at a spread of SOFR mid-swaps plus 20 basis points or Treasuries plus 11.2 bps. Pricing came on top of price talk in the SOFR mid-swaps plus 20 bps area.

A second, smaller tranche priced out as $1.5 billion of 1 7/8% seven-year notes. Pricing also came directly on top of talk, at SOFR mid-swaps plus 36 bps or Treasuries plus 13.9 bps versus talk in the SOFR mid-swaps plus 36 bps area.

HSBC, Morgan Stanley, RBC and TD Securities were bookrunners.

Issuer:	Asian Development Bank
Amount:	$3.75 billion
Issue:	Notes
Bookrunners:	HSBC, Morgan Stanley, RBC and TD Securities
Trade date:	March 8
Two-year notes
Amount:	$2.25 billion
Maturity:	March 15, 2024
Coupon:	1 5/8%
Spread:	SOFR mid-swaps plus 20 bps, or Treasuries plus 11.2 bps
Price talk:	SOFR mid-swaps plus 20 bps area
Seven-year notes
Amount:	$1.5 billion
Maturity:	March 15, 2029
Coupon:	1 7/8%
Spread:	SOFR mid-swaps plus 36 bps, or Treasuries plus 13.9 bps
Price talk:	SOFR mid-swaps plus 36 bps area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.