Chicago, Jan. 5 – Asian Development Bank priced $5 billion of bonds in a two-part offering on Thursday, according to a press release from the bank.
The deal included $3 billion of three-year bonds with a 4 1/8% coupon. The tranche priced at 99.663, or at Treasuries plus 11.9 basis points.
The $2 billion 10-year bonds in the transaction also priced with a 4 1/8% coupon. The discount was 99.53 for a spread of 21.3 bps to Treasuries.
BofA Securities, Morgan Stanley, RBC Capital Markets and TD Securities were joint lead managers. The syndicate also included CIBC Capital Markets, Daiwa Capital Markets Europe, NatWest Markets, Scotiabank and Standard Chartered Bank.
Proceeds will be used for the bank’s ordinary capital resources used to promote social and economic development across Asia and the Pacific.
ADB plans to raise around $30 billion to $34 billion from the capital markets in 2024.
The issuer is a Manila-based development bank.
| Issuer: | Asian Development Bank
|
| Amount: | $5 billion
|
| Issue: | Bonds
|
| Bookrunners: | BofA Securities, Morgan Stanley, RBC Capital Markets and TD Securities (lead), CIBC Capital Markets, Daiwa Capital Markets Europe, NatWest Markets, Scotiabank and Standard Chartered Bank
|
| Trade date: | Jan. 4
|
|
|
| Three-year bonds
|
| Amount: | $3 billion
|
| Tenor: | Three years
|
| Coupon: | 4 1/8%
|
| Price: | 99.663
|
| Spread: | Treasuries plus 11.9 bps
|
|
|
| 10-year bonds
|
| Amount: | $2 billion
|
| Tenor: | 10 years
|
| Coupon: | 4 1/8%
|
| Price: | 99.53
|
| Spread: | Treasuries plus 21.3 bps
|
|
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