By Marisa Wong and Cristal Cody
Los Angeles, March 31 – Philippines’ Asian Development Bank sold $1.25 billion of notes due April 6, 2027 at SOFR plus 28 basis points on Wednesday, according to a market source.
The bank had planned to sell at least $500 million of global notes, as previously reported.
Price talk was in the SOFR plus 29 bps area.
BMO, Deutsche Bank and Nomura led the sale.
The development bank is based in Manila.
| Issuer: | Asian Development Bank
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| Amount: | $1.25 billion
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| Issue: | Notes
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| Maturity: | April 6, 2027
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| Bookrunners: | Bank of Montreal, London Branch, Deutsche Bank and Nomura
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| Coupon: | SOFR plus 28 bps
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| Price: | 103.598
|
| Trade date: | March 30
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| Price talk: | SOFR plus 29 bps area
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