By Devika Patel and Cristal Cody
Knoxville, Tenn., Sept. 21 – Asian Development Bank priced $2.75 billion of 4.125% two-year notes and $1.25 billion of 3.875% 10-year bonds for a total of $4 billion on Tuesday, according to a market source.
The 2024 notes were sold with a spread of SOFR mid-swaps plus 8 basis points, or Treasuries plus 19.9 bps. Initial price talk for the 2024 notes was in the SOFR mid-swaps plus 10 bps area.
The 2032 notes were sold with a spread of SOFR mid-swaps plus 51 bps, or Treasuries plus 31.5 bps. Initial price talk for the 2032 notes was in the SOFR mid-swaps plus 52 bps area.
Credit Agricole CIB, Deutsche Bank, Morgan Stanley and RBC were the bookrunners.
The issuer is a Manila-based development bank.
| Issuer: | Asian Development Bank
|
| Amount: | $4 billion
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| Issue: | Bonds
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| Bookrunners: | Credit Agricole CIB, Deutsche Bank, Morgan Stanley and RBC
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| Trade date: | Sept. 20
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| 2024 notes
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| Amount: | $2.75 billion
|
| Maturity: | Sept. 27, 2024
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| Coupon: | 4.125%
|
| Spread: | SOFR mid-swaps plus 8 bps, or Treasuries plus 19.9 bps
|
| Price guidance: | SOFR mid-swaps plus 10 bps area
|
|
|
| 2032 notes
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| Amount: | $1.25 billion
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| Maturity: | Sept. 28, 2032
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| Coupon: | 3.875%
|
| Spread: | SOFR mid-swaps plus 51 bps, or Treasuries plus 31.5 bps
|
| Price guidance: | SOFR mid-swaps plus 52 bps area
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