By Angela McDaniels
Tacoma, Wash., Jan. 16 - Asian Development Bank priced $1 billion of 1.375% notes due 2020 at 99.888 to yield Treasures plus 17.45 basis points.
The deal priced Tuesday, according to a Wednesday news release from the bank.
The transaction was lead managed by Goldman Sachs & Co., Morgan Stanley & Co. LLC, and RBC Capital Markets. A syndicate group was also formed consisting of BNP Paribas Securities Corp., Citigroup Global Markets Inc., Daiwa Securities America Inc., SMBC Nikko and TD Securities (USA) LLC.
The proceeds will be part of the bank's ordinary capital resources and used in its non-concessional operations.
The bank said 59% of the bonds were placed in Asia, 29% in Europe, the Middle East and Africa and 12% in the Americas. By investor type, 54% were bought by central banks and official institutions, 27% by fund managers, 18% by banks and 1% others.
Asian Development Bank, a lender based in Manila, said it plans to raise $14 billion to $16 billion in the capital markets in 2013.
| Issuer: | Asian Development Bank
|
| Issue: | Global benchmark bonds
|
| Amount: | $1 billion
|
| Maturity: | March 23, 2020
|
| Lead managers: | Goldman Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets
|
| Other managers: BNP Paribas Securities Corp., Citigroup Global Markets Inc., Daiwa Securities America Inc., SMBC Nikko, TD Securities (USA) LLC
|
| Coupon: | 1.375%
|
| Price: | 99.888
|
| Yield: | 1.125% Treasury due December 2019 plus 17.45 bps
|
| Pricing date: | Jan. 15
|
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