By Cristal Cody
Chicago, Jan. 19 – Asian Development Bank sold $5.5 billion of notes in two parts, a market source said. Additional details were in a press release from the bank.
The bank sold $3.5 billion of 4¼% notes with a three-year tenor. The notes priced at SOFR mid-swaps plus 29 basis points, or at Treasuries plus 14.1 bps. Initial talk was in the SOFR mid-swaps plus 29 bps area.
The bank also sold $2 billion of 4% notes with a 10-year tenor. Pricing came at SOFR mid-swaps plus 60 bps, or at Treasuries plus 28.625 bps. Pricing came on top of talk, in the mid-swaps plus 60 bps area.
Citigroup Global Markets, Nomura, RBC Capital Markets, and TD Securities were the bookrunners.
The orderbook was over $13 billion.
Proceeds will be used for ordinary capital resources used to support development across Asia and the Pacific.
The bank says it plans to raise around $31 billion to $33 billion from the capital markets in 2023.
The issuer is a Manila-based development bank.
| Issuer: | Asian Development Bank
|
| Amount: | $5.5 billion
|
| Issue: | Notes
|
| Bookrunners: | Citigroup Global Markets, Nomura, RBC Capital Markets, and TD Securities
|
| Co-managers: | CIBC Capital Markets, DBS Bank, ING Bank, and Scotiabank
|
| Trade date: | Jan. 5
|
|
|
| 2026 notes
|
| Amount: | $3.5 billion
|
| Maturity: | Jan. 9, 2026
|
| Coupon: | 4¼%
|
| Price: | 99.72
|
| Spread: | SOFR mid-swaps plus 29 bps, or at Treasuries plus 14.1 bps
|
| Price talk: | SOFR mid-swaps plus 29 bps area
|
|
|
| 2033 notes
|
| Amount: | $2 billion
|
| Maturity: | Jan. 12, 2033
|
| Coupon: | 4%
|
| Price: | 99.812
|
| Spread: | SOFR mid-swaps plus 60 bps, or at Treasuries plus 28.625 bps
|
| Price talk: | SOFR mid-swaps plus 60 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.
