By Christine Van Dusen
Atlanta, Jan. 14 – Asian Development Bank priced a two-tranche $3 billion issue of global bonds due 2020 and 2025, according to a company announcement.
The $1.75 billion of 1˝% notes due 2020 priced to yield 1.543%, or a spread of 15.75 basis points over Treasuries.
The $1.25 billion of 2% notes due 2025 priced to yield 2.124%, or a 20.7 bps spread.
Citigroup, Daiwa, Goldman Sachs an, JPMorgan were the bookrunners.
Asian Development Bank said 40% of the 5-year bonds were placed in Asia, 24% in Europe, the Middle East and Africa and 36% in the Americas. By investor, 59% of the bonds went to central banks and official institutions, 34% to banks, 5% to fund managers, and 2% to other types of investors.
For the 10-year bonds, 47% was placed in Asia, 20% in Europe, the Middle East and Africa and 33% in the Americas. By investor type, 35% of the bonds went to central banks and official institutions, 39% to banks, 21% to fund managers, and 5% to other types of investors.
Proceeds will be added to the bank’s ordinary capital resources and used in its non-concessional operations.
Asian Development Bank said it plans to raise around $16 billion to $18 billion from the capital markets in 2015.
| Issuer: | Asian Development Bank
|
| Amount: | $3 billion
|
| Description: | Global bonds
|
| Bookrunners: | Citigroup, Daiwa, Goldman Sachs, JPMorgan
|
| Co-managers: | BofA Merrill Lynch, Credit Agricole CIB, Credit Suisse, Deutsche Bank, Development Bank of Singapore, HSBC, Morgan Stanley, Nomura International, RBC Capital Markets Corp., SMBC Nikko Capital Markets, Standard Chartered Bank, TD Securities
|
| Trade date: | Jan. 13
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | Jan. 22, 2020
|
| Coupon: | 1˝%
|
| Yield: | 1.543%
|
| Spread: | Treasuries plus 15.75 bps
|
|
|
| Ten-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 22, 2025
|
| Coupon: | 2%
|
| Yield: | 2.124%
|
| Spread: | Treasuries plus 20.7 bps
|
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