By Aaron Hochman-Zimmerman
New York, Aug. 6 - Asian Development Bank (ADB) priced 6 billion Kazakh tenge 10-year notes (Aaa/AAA/AAA) at par to yield 6.8%, according to a press release.
The size of 6 billion Kazakh tenge is the equivalent of approximately $49 million. Interest will be paid in dollars.
JP Morgan was mandated to act as the bookrunner for the Manila, Philippines-based development bank.
Proceeds from the sale will be used to fund non-sovereign lending as well as to fund the development of infrastructure and banking in Kazakhstan.
| Issuer: | Asian Development Bank
|
| Amount: | 6 billion Kazakh tenge ($49 million)
|
| Issue: | Five-year notes
|
| Maturity: | 2012
|
| Coupon: | 6.8%
|
| Price: | Par
|
| Yield: | 6.8%
|
| Bookrunner: | JP Morgan
|
| Pricing date: | Aug. 6
|
| Rating: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
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