Published on 2/11/2015 in the Prospect News Agency Daily, Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Philippines’ ADB prices $2.25 billion 1 7/8% notes due 2022 at 115 bps spread
By Christine Van Dusen
Atlanta, Feb. 11 – Philippines-based Asian Development Bank priced $2.25 billion 1 7/8% seven-year notes with a 1.912% yield, or a spread of Treasuries plus 115 basis points, according to a company announcement.
BofA Merrill Lynch, Morgan Stanley, RBC CM and TD Securities were the lead managers. BNP Paribas, Credit Agricole, Credit Suisse, Deutsche Bank, HSBC, Mizuho Securities, Nomura Securities, SMBC Nikko and Standard Chartered Bank were the other bookrunners for the deal.
Asian Development Bank is an international development finance institution based in Manila.
Issuer: | Asian Development Bank
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Amount: | $2.25 billion
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Maturity: | Feb. 18, 2022
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Description: | Notes
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Bookrunners: | BofA Merrill Lynch, Morgan Stanley, RBC CM, TD Securities (lead managers); BNP Paribas, Credit Agricole, Credit Suisse, Deutsche Bank, HSBC, Mizuho Securities, Nomura Securities, SMBC Nikko, Standard Chartered Bank
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Coupon: | 1 7/8%
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Yield: | 1.912%
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Spread: | Treasuries plus 115 bps
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Trade date: | Feb. 10
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Settlement date: | Feb. 18
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