By Christine Van Dusen
Atlanta, May 27 - Philippines-based Asian Development Bank priced $3 billion 1 5/8% bonds due July 15, 2013 at 99.626 to yield Treasuries plus 46 basis points, according to a company announcement.
Daiwa Capital Markets, Goldman Sachs International, Morgan Stanley and UBS Investment Bank were the bookrunners for the global deal, which was the lender's second in the U.S. bond market this year. The first bonds were issued in February with a five-year maturity.
"The robust sponsorship from investors globally resulted in an oversubscribed book of around $3.3 billion," said ADB treasurer Mikio Kashiwagi in a written statement.
About 46% of the bonds were placed in the Americas, 32% in Asia and 22% in Europe, the Middle East and Africa. About 63% of the bonds went to central bank and government institutions, 17% to banks, 14% to fund managers and 6% to other types of investors.
The issuer plans to raise about $15 billion from the international capital markets this year.
Proceeds will be used for capital resources and non-concessional operations.
Asian Development Bank is an international development finance institution based in Manila.
| Issuer: | Asian Development Bank
|
| Amount: | $3 billion
|
| Maturity: | July 15, 2013
|
| Description: | Global bonds
|
| Bookrunners: | Daiwa Capital Markets, Goldman Sachs International, Morgan Stanley, UBS Investment Bank
|
| Coupon: | 1 5/8%
|
| Price: | 99.626
|
| Spread: | Treasuries plus 46 bps
|
| Trade date: | May 27
|
| Settlement date: | July 15
|
| Distribution: | Global
|
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