Published on 6/2/2011 in the Prospect News Agency Daily, Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Philippines' Asian Development Bank sells $1.5 billion three-year notes at 23 bps spread
By Christine Van Dusen
Atlanta, June 2 - Philippines-based Asian Development Bank priced $1.5 billion of 7/8% global bonds due June 10, 2014 at 99.767 to yield Treasuries plus 23 basis points, according to a company announcement.
Bank of America Merrill Lynch, Daiwa Capital Markets, Deutsche Bank and UBS were the bookrunners for the deal.
Asian Development Bank is an international development finance institution based in Manila.
| Issuer: | Asian Development Bank (ADB)
|
| Amount: | $1.5 billion
|
| Maturity: | June 10, 2014
|
| Description: | Global bonds
|
| Bookrunners: | Bank of America Merrill Lynch, Daiwa Capital Markets, Deutsche Bank, UBS
|
| Coupon: | 7/8%
|
| Price: | 99.767
|
| Spread: | Treasuries plus 23 bps
|
| Trade date: | June 1
|
| Settlement date: | June 10
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
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