By Angela McDaniels
Tacoma, Wash., Feb. 3 - Asian Development Bank priced $2.5 billion of global bonds due Feb. 9, 2015 on Tuesday, according to a bank news release.
The bonds have a coupon of 2 5/8% and were priced at 99.642 to yield 34.15 basis points over the 2¼% U.S. Treasury note due January 2015.
Bank of America Merrill Lynch, Morgan Stanley, RBC Capital Markets and UBS were the lead managers. A syndicate group was also formed consisting of BNP Paribas, Citi, Credit Suisse, Daiwa, Goldman Sachs and JPMorgan.
The bank said the proceeds will be part of its ordinary capital resources and used in its non-concessional operations.
According to the release, 62% of the bonds were placed in Asia, 20% in the United States and 18% in Europe, the Middle East and Africa. By investor type, 53% of the bonds went to central bank and government institutions, 27% to banks, 18% to fund managers and 2% to others.
The deal is ADB's first global issue in the dollar global bond market since May 2009, when it issued $3 billion of 2¾% bonds due May 21, 2014.
The bank said it plans to raise around $15 billion in 2010.
Asian Development Bank promotes economic and social progress in the Asia-Pacific region and is based in Manila.
| Issuer: | Asian Development Bank
|
| Issue: | Global bonds
|
| Amount: | $2.5 billion
|
| Maturity: | Feb. 9, 2015
|
| Managers: | Bank of America Merrill Lynch, Morgan Stanley, RBC Capital Markets, UBS (leads), BNP Paribas, Citi, Credit Suisse, Daiwa, Goldman Sachs and JPMorgan
|
| Coupon: | 2 5/8%
|
| Price: | 99.642
|
| Spread: | 2¼% Treasury due January 2015 plus 34.15 bps
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 9
|
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