By Reshmi Basu
New York, May 22 - The Asian Development Bank (ADB) (Aaa/AAA/AAA) placed a PHP 5 billion offering of five-year bonds to yield 5.23%, according to a news release.
The issue was priced on Monday, following an extensive roadshow for local institutional investors.
ADB added that the transaction was oversubscribed while banks, pension funds, insurance companies, fund management companies and trust departments played in the deal.
First Metro Investment and Standard Chartered Bank Philippines were joint bookrunners for the deal.
This is the second peso-denominated issue by the institution. In October 2005, ADB was the first foreign issuer to sell local currency bonds in the country.
Asian Development Bank is a Manila-based multilateral development finance institution.
| Issuer: | Asian Development Bank
|
| Amount: | PHP 5 billion
|
| Issue: | Philippine peso-denominated bonds
|
| Maturity: | 2012
|
| Yield: | 5.23%
|
| Bookrunners: | First Metro Investment, Standard Chartered Bank Philippines
|
| Pricing date: | May 21
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
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